Aarushi 17 March 2022
Bis Dat Qui Cito Dat is a Latin phrase which literally means “he pays twice who pays promptly”. This maxim highlights the importance of time in cases relating to paying or giving something. It basically states that a person who gives anything promptly gives twice of the amount of the thing given. Often, giving anything over a long period or within a short period is said to be same since the thing to be given remains the same, however it is not so. According to this maxim, anything which is given quickly has more value than the same thing given over a period of time. The use of this maxim includes gifts too.
Arya Bhandar Pvt. Ltd. v. Kotak mahindrs Bank Ltd.
In this case, when the question arose as to payment of a debt of Rs. 99,52,453.07, the Court held that the payment of this amount in the year 2006 will not be same to the payment of the same amount in the year 2013. Applying the maxim of Bis dat qui cito dat, the Court observed that the payment in 2013 would be far less than the payment in 2006, since by 2013 the value of money would have been decreased and thus the value of the sum too would meet the same fate.