1917 (1) TMI 2 - HC - Indian Laws

Summary

The High Court of Madras ruled that a promise to pay an amount determined by an arbitrator in a partnership account is not considered a debt under Section 25 of the Indian Contract Act. The court referred to the ordinary meaning of "debt" as a sum payable in respect of a money demand recoverable by action. The question was answered in the negative. (Case citation: 1917 (1) TMI 2 - MADRAS HIGH COURT)