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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.

Rate of Interest for the Period after Decree and Interest on Costs Under Sections 34 and 35 of the Code of Civil Procedure, 1908 Back

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