Report No. 144

2.5.12. Recommendation.-

In our view, the position should be clarified and the place where the creditor resides should also be treated as the place where the payment is to be made, unless the agreement expressly provides to the contrary. We would recommend that an Explanation may be added to section 20, in suitable terms, to achieve the objectives. This is the view of the majority of the High Courts and represents, in large number of cases, the intention of the parties.