Regarding clarification regarding contract under PIR, 1986

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..... ms and Central Excise All Commissioners of Customs All Commissioners of Customs and Central Excise Sir/Madam, References have been received in the Board to clarify whether or not a purchase order can be considered as a contract in terms of provisions contained in the Project Import Regulations, 1986 . It is also reported that in this regard varying practices are being followed in differen .....

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..... hould be lawful consideration; (iii) there should be a lawful object; and (iv) it is not expressly declared to be void (i.e. void under the statute). 3. In view of the aforementioned legal position it is evident that a purchase order that contains all the essential ingredients of a valid contract must be treated as one under the Indian Contract Act, 1872 . The implication is that such a pur .....

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