what do u mean b y previous parties not consenting.
pratik
(Querist) 10 September 2010
This query is : Resolved
83. Discharge by allowing drawee more than forty-eight hours to accept.-If the holder of a bill of exchange allows the drawee more than [forty eight] hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.
Query : what does it says 'all previous parties not consenting to such allowance are thereby discharged from liability to such holder' Pls if possible with the help of a example(s).
11- Appointment of arbitrators.
(1) A person of any nationality may be an arbitrator, unless otherwise agreed by the parties.
(2) Subject to sub-section (6), the parties are free to agree on a procedure for appointing the arbitrator or arbitrators.
(3) Failing any agreement referred to in sub-section (2), in an arbitration with three arbitrators, each party shall appoint one arbitrator, and the two appointed arbitrators, shall appoint the third arbitrator who shall act as the presiding arbitrator.
Query : So as per section 1193) if there are 5 or 7 or 9 arbitrator than how will select whom 7 how pls clarify me with the example(S).
14- Failure or impossibility to act
(1) The, mandate of an arbitrator shall terminate if –
(a) he becomes de jure or de facto unable to perform his functions or for other reasons fails to act without undue delay; and
(b) he withdraws from his office or the parties agree to the termination of his mand.
Query : what do u mean by de jure or de facto as per section 14(1)(a). if possible with the example(S).
Thanks In Advance.
