BURJORJI RUTTONJI BOMANJI Vs. BHAGVANDAS PARASHRAM

JUDGEMENT

(1.) This suit was brought by the plaintiffs, a firm of Marwari merchants, who act inter alia as pakka adatias to recover from the defendant Rs. 90,763-14-6 and interest as the amount due by the defendants to the plaintiffs as his pakka adatias in respect of certain contracts in cotton and linseed.

(2.) The defence was that the transactions were wagering transactions and therefore the sum claimed could not be recovered, the defendant also counter- claimed repayment of two sums of Rs. 50,600 and Rs. 10,400 deposited by him as he alleged at fixed deposit but as the plaintiffs alleged as margin-money or security in respect of the contracts above-mentioned.

(3.) The only contract in cotton was dated the 30th June 1910. It was for the purchase by the defendant from the plaintiffs of 2000 bales of Broach Cotton for March 1911. The market went in the defendant s favour and the contract was closed for Rs. 5804-2-3 without any delivery taking place. The defendant has received credit in the account sued on for this sum. The linseed contracts are as follows :- One dated the 1st of July 1910 for the sale by the defendant to the plaintiffs of one thousand tons of linseed at Rs. 11-5-0 per cwt. Another of the 6th of July 1910 for the sale by the defendant to the plaintiffs of 800 tons at rates varying from Rs. 11-10 to Rs. 11-10-9 per cwt. The plaintiffs further allege that the defendant orally agreed to sell them a further 2200 tons of linseed on the 10th of July 1910.