(Indian Contract Act, 1872) Hansraj Gupta v. Official Liquidators of the Dehra Dun-Mussoorie Electric Tramway Co. Ltd. AIR 1933 PC 63 states that…
In the case of Hansraj Gupta v. Official Liquidators, they talked about a law called the Indian Contract Act from 1872. This law has rules about promises and agreements between people or companies.
In this case, Hansraj Gupta had an agreement with the company. The company promised to use its things (like property or assets) as a guarantee for the money they borrowed from Hansraj Gupta. It’s like saying, “If we can’t pay you back, you can have these things to make up for it.”
The Indian Contract Act helped to ensure that this agreement between Hansraj Gupta and the company was fair and followed the rules. It made sure that the promise made by the company was legally right and could be enforced. The court looked at this law to make a fair decision in the case.