https://www.taxtmi.com/caselaws?id=291458 An agreement requiring the parties to act jointly as co-agents in managing mills was treated as a confidential, personal arrangement involving discretion and mutual trust, so specific performance was refused. The court also noted lack of mutuality, since the defendant could not have enforced the plaintiffs' reciprocal obligation, and performance depended on corporate assent that could not be compelled behind the company's back. Even if viewed as a transfer of managing agency, it would have been invalid without the company's approval under company law. Damages were also denied because the plaintiffs proved no actual loss or reasonably anticipated compensable injury. en-us Fri, 17 Jul 1942 00:00:00 +0530 Wed, 11 Nov 2020 13:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291458 An agreement requiring the parties to act jointly as co-agents in managing mills was treated as a confidential, personal arrangement involving discretion and mutual trust, so specific performance was refused. The court also noted lack of mutuality, since the defendant could not have enforced the plaintiffs' reciprocal obligation, and performance depended on corporate assent that could not be compelled behind the company's back. Even if viewed as a transfer of managing agency, it would have been invalid without the company's approval under company law. Damages were also denied because the plaintiffs proved no actual loss or reasonably anticipated compensable injury. Case-Laws Indian Laws Fri, 17 Jul 1942 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291458