'Oral Undertaking Falls Within Scope Of Arbitration Clause' : Supreme Court Upholds Award Against Husband For Operation In Wife's Demat Account
1 month, 1 week ago

'Oral Undertaking Falls Within Scope Of Arbitration Clause' : Supreme Court Upholds Award Against Husband For Operation In Wife's Demat Account

Live Law  

The Supreme Court today held that an oral contract undertaking joint and several liability falls within the scope of an arbitration clause. Holding so, the Court affirmed an arbitral award against a husband, finding him jointly liable for the award due to a debit balance in a joint demat account registered in his wife's name. 2's account based on an oral contract among the parties that both husband and wife will be jointly and severally liable for the transactions in each of their accounts.”, the court observed. The Court determined that the husband's liability for the debit balance in his wife's account provided sufficient grounds for invoking the arbitration clause.

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Supreme Court holds husband liable for wife’s stock market debt based on oral contract — what does this mean?
1 month ago

Supreme Court holds husband liable for wife’s stock market debt based on oral contract — what does this mean?

Live Mint  

The Supreme Court of India, has in a ruling last week, held that a husband is legally liable to repay his wife's stock market debt of around ₹1.18 crore along with 9 per cent interest, based on a verbal contract, according to a report by Bar and Bench. In its ruling, the apex court noted that a husband can be …

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