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Head Note

Indian Contract Act, 1872  - Section 5

Contract Act, 1872 - Section 5 - Revocation of tender - Earnest money - Forfeiture of - Special condition No. 2 of contract inter alia provided that the earnest money shall be forfeited on revocation of the tender - Held that the High Court was in manifest error in holding that the forfeiture did not fall within the purview of Condition No. 2 - It is no longer possible for the respondents to contend that the right to withdraw the bid in terms of Section 5 of the Contract Act, 1872 would entitle them to withdraw without suffering forfeiture of the earnest money even in cases where the submission and receipt of bids is itself subject to the condition that in the event of a withdrawal of the bid the earnest money stand forfeited - The order passed by the High Court set aside and writ petition liable to be dismissed. Words and phrases - Expression 'revocation of tender' and 'revocation of tender notice' - There is a clear difference between revocation of a 'tender' and revocation of the 'tender notice' - While revocation of the tender notice is the prerogative of the appellant-corporation, revocation of the 'tender' could be only by the bidder/tenderer concerned.

Topic(s)-Contract - Revocation of tender - Earnest money - Forfeiture of