An I. O. U. is evidence of an account stated', but not of money I. O. U. lent 2. Promissory notes will be considered when we come to the Negoti- Promissory able Instruments Act. QUASI CONTRACTS. This, says Sir W. Anson, is a convenient term for a multifarious class of legal relations which possess this common feature, that, without agreement and without delict or breach of duty on either side, A has paid something which ought to pay, or X has received something which A ought to receive. The law in such cases imposes a duty upon X to make good to A the advantage to which A is entitled 3. The provisions of the Indian Contract Act on this subject are contained in secs. 68-73. Section 68 deals with two cases, (a) where I being incompetent to contract is supplied by 4 with necessaries suited to his condition in life, and (6) where A so supplies Y, whom X (being incompetent to contract) is legally' bound to support. In both cases A is entitled to be reimbursed from the property of X, but not to any personal remedy against him. Section 69 deals with cases in which A allows B to assume such a position that B may be compelled by law to discharge A's legal liabilities. In such cases the law implies a request by A to B to make the payment and a promise by A to repay B. Besides the case of the zamíndár's tenant paying revenue-arrears, which is given as an illustration, the payment by one of several co-debtors or co-sureties of the entirety of the debt is dealt with by secs. 43 and 146. So where the mortgagees of a ship who had taken possession, paid off the wages due to the crew from the owners for the purpose of liberating her from proceedings in the Court of Admiralty". Section 70 confers a right resembling that of the Roman negotiorum gestor; but under the Indian law compensation is not payable unless the principal actually derives benefit from the gestio. notes, Section 71 declares generally the responsibility of the finder of goods to their owner. The rights and duties of the finder of hidden treasure are declared by Act VI of 1878. Section 72 declares the obligation of one to whom money has been paid, or goods delivered, under coercion, or by mistake as to the existence of a liability to make the payment or delivery'. The case where the payment or delivery has been procured by fraud seems to have been forgotten. Where the obligation resulting from a quasi-contract has not been discharged, any person injured by the failure is entitled to receive the same compensation from the party in default, as if such person had contracted to discharge the obligation and had broken his contract (sec. 73, par. 3). The Bill which afterwards became the Contract Act was drawn in 1866 in England by the Indian Law Commissioners. In the following year it was introduced into the Council of the GovernorGeneral during the absence of Mr. (now Sir Henry) Maine by the Right Hon. W. N. Massey, referred to a Select Committee, and published and circulated to the Local Governments. Thereupon, a controversy arose between the Secretary of State and the Commissioners on the one side, the Home and the Indian authorities on the other, as to the Commissioners' proposals that all penalties should be treated as liquidated damages, and that the ownership of goods may be acquired by buying them from any person who is in possession of them, if the buyer acts in good faith, and under circumstances which do not raise a presumption that the possessor has no right to sell them, in other words, that every place in India should become a market overt. The result was that the Secretary of State permitted the Government of India to take their own course as to altering the Bill: the Commissioners resigned; and the Bill (whose early enactment was directed by the Secretary of State) was carried through the Council, with some important amendments, by Mr. (now Sir Fitzjames) Stephen. Unfortunately it had been sent out to India in a very crude form; it never underwent the patient, penetrating revision by a skilled draftsman necessary in the case of such a measure; and though the Indian judges have loyally endeavoured to give effect to its provisions, these are so incomplete and sometimes so inaccurately worded that the time seems to have come for repealing the Act, and re-enacting it with the amendments in arrangement, wording and substance, suggested by the cases decided upon it during the last fourteen years. Should this be done it would be well to incorporate the existing laws relating to negotiable instruments, to exchanges, and to sales and mortgages and leases of immovable property, and to add chapters on Carriers and Insurance. 1 Marriot v. Hampton, 2 Smith, L. C., 8th ed., 421 and notes. 456789 Acceptance by performing conditions, or receiving consideration CHAPTER II. OF CONTRACTS, VOIDABLE CONTRACTS, AND VOID AGREEMENTS. . 18 19 20 'Misrepresentation' defined Voidability of agreements without free consent Agreement void where both parties are under mistake as to matter of fact Effect of mistakes as to law SECTION Contract not voidable merely because of mistake of one party as to matter of fact What considerations and objects are lawful, and what not 21 22 23 VOID AGREEMENTS. Agreements void, if considerations and objects unlawful in part Saving of agreement not to carry on business of which good-will is sold Of agreement between partners prior to dissolution Agreements in restraint of legal proceedings, void Saving of contract to refer to arbitration dispute that may arise Saving of contract to refer questions that have already arisen Agreements void for uncertainty Agreements by way of wager, void Exception in favour of certain prizes for horse-racing ib. . 31 Enforcement of contracts contingent on an event happening Enforcement of contracts contingent on an event not happening When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person When contracts become void, which are contingent on happening of specified event within fixed time When contracts may be enforced, which are contingent on specified event not happening within fixed time Agreements contingent on impossible events, void CHAPTER IV. OF THE PERFORMANCE OF CONTRACT. CONTRACTS WHICH MUST BE PERFORMED. Obligation of parties to contracts Effect of refusal to accept offer of performance. 32 Time for performance of promise, where no time is specified and no application to be made Time and place for performance of promise, where time is specified and no application to be made Application for performance to be at proper time and place 40 4I 42 43 ib. ib. 44 45 Place for performance of promise, where no application to be made and no place fixed Performance in manner or at time prescribed or sanctioned by promisee PERFORMANCE OF RECIPROCAL PROMISES. Promisor not bound to perform, unless reciprocal promisee ready and willing to perform Order of performance of reciprocal promises Liability of party preventing event on which contract is to take effect Effect of default as to that promise which should be first performed, in contract consisting of reciprocal promises . Effect of failure to perform at fixed time, in contract in which time is essential Effect of acceptance of performance at time other than that agreed ib. Contract to do impossible act, or one which afterwards becomes im- Where there are promises to do things legal, and also other things illegal, APPROPRIATION OF PAYMENTS. Application of payment where debt to be discharged is indicated |