https://www.taxtmi.com/caselaws?id=456183 Unconditional acceptance of a tender within the validity period, together with subsequent conduct such as furnishing a bank guarantee and correspondence on supply, can crystallise a binding concluded contract despite a later request to vary price. On those facts, the supplier's failure to supply justified risk purchase. An arbitral award will not be interfered with merely because its reasons are brief; where the award refers to the material on record and shows a rational connection between evidence and conclusion, it is not unreasoned or unsupported by evidence. The objections to the award were rejected and the award was sustained. en-us Thu, 29 Sep 2005 00:00:00 +0530 Fri, 05 Jul 2024 10:46:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456183 Unconditional acceptance of a tender within the validity period, together with subsequent conduct such as furnishing a bank guarantee and correspondence on supply, can crystallise a binding concluded contract despite a later request to vary price. On those facts, the supplier's failure to supply justified risk purchase. An arbitral award will not be interfered with merely because its reasons are brief; where the award refers to the material on record and shows a rational connection between evidence and conclusion, it is not unreasoned or unsupported by evidence. The objections to the award were rejected and the award was sustained. Case-Laws Indian Laws Thu, 29 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456183