Report No. 55
32. Desirability of amendment.-
We have in mind commercial transactions, i.e. transactions connected with industry, trade or business. Monetary liabilities arising out of such transactions stand on a special footing, because the activities concerned are carried on with a view to profit. The debtor and the creditor do not stand in situations of disparity. If, for example, it is a case of loan, then the money would have been borrowed for carrying on or improving the business of the borrower. It is far removed from a debt incurred by a poor agriculturist or a needy urban resident to make his two ends meet.
Back
