Payment - Indian Laws - General

Expression Payment The Concise Oxford English Dictionary (Tenth Edition-revised) defines payment 1. the action of paying or the process of being paid. 2. an amount paid or payable . As per Webster Comprehensive Dictionary (International Edn.) Vol. 2 defines payment Payment. - (1) the act of paying. (2) Pay; requital; recompense. The Law Lexicon by P. Ramanatha Aiyar, 2nd Edn. Reprint, inter alia, states: payment is defined to be the act of paying, or that which is paid; discharge of a debt, obligation or duty; satisfaction of claim; recompense; the fulfilment of a promise or the performance of an agreement; the discharge in money of a sum due . In Black s Law Dictionary (Tenth Edition, page 1309), the verb pay , which leads to the derivative paid is defined as follows: - Pay, vb. (13c) 1. To give money for a good or service that one buys; to make satisfaction . 2. To transfer money that one owes to a person, company, etc. . 3. To give (someone) money for the job that he or she does; to compensate a person for his or her occupation; COMPENSATE (1) . 4. To give (money) to someone because one has been ordered by a court to do so . 5. To be profitable; to bring in a return . On the same page in Black s Law Dictionary (Tenth Edition, page 1309), the expression payment is defined in the following terms: - Payment. (14c) 1. Performance of an obligation by the delivery of money or some other valuable thing accepted in partial or full discharge of the obligation. 2. The money or other valuable thing so delivered in satisfaction of an obligation. In the Law Lexicon by P. Ramanatha Aiyar (Fifth Edition, Volume 3 at page 3796), several connotations of the expression payment have been mentioned. We may reproduce the relevant part thereof as under: - Payment is defined to be the act of paying, or that which is paid; discharge of a debt, obligation, or duty; satisfaction of claim; recompense; the fulfilment of a promise or the performance of an agreement; the discharge in money of a sum due. In legal contemplation, payment is the discharge of an obligation by the delivery of money or its equivalent, and is generally made with the assent of both parties to the contract. HP Housing and Urban Development Authority and Anr. v. Ranjit Singh Rana - 2012 (3) TMI 641 - SUPREME COURT