whether part performance by both parties amounts to mutual renewal
8 months ago
contract for sale of shares was partly performed during and after the initial term of the contract. Party refused to buy shares of two companies after it secured purchase of one main company. Sellers filed arbitration petition
A.Dear Client,
Part performance of any contract cannot frustrate the obligations of the parties and termed as a breach of contract. If the contract provides a clause of arbitration for the settlement of a dispute, either party can opt for settlement of a dispute arising out of breach of contract through arbitration serving a notice u/s.21 of the Arbitration and Conciliation Act, 1996
Part performance of any contract cannot frustrate the obligations of the parties and termed as a breach of contract. If the contract provides a clause of arbitration for the settlement of a dispute, either party can opt for settlement of a dispute arising out of breach of contract through arbitration serving a notice u/s.21 of the Arbitration and Conciliation Act, 1996
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