(1.) Heard the learned Counsel for the parties.
(2.) The brief facts which have given rise to this appeal are that under an agreement between the parties, the respondent paid a sum of Rs. 50,000/- for supply of certain goods, the appellant accepted the same but failed to supply any goods.
(3.) Clauses 3 and 7 A, B and C of the agreement dated 7th May, 1998 read as under: