JIVANCHAND GAMBHIRMAL Vs. LAXMINARAYAN GANESHRAM

JUDGEMENT

(1.) The plaintiffs sited to recover Rs. 756-3-0 and costs of the suit alleging that the defendant agreed to purchase from plaintiffs five bales of Fancy Border Dhotees of Amalner Mill weighing 1250 lbs. at the rate of Rs. 2-12-9 per lb., that the delivery was to be made on November 18, 1918, that the market-rate of the said goods been to decrease, that the defendant fearing a steady fall in the rate and consequent loss there from agreed to sell the goods to plaintiffs at the rate of Rs. 2-1-3 per lb. and that plaintiffs thus stood to gain a profit of Rs. 742 3-0 in the bargain, and that the payment of the said profit amount by the defendant to plaintiffs became due on November 18, 1918, the due date for delivery.

(2.) The defendant admitted the agreements in suit but contended that no actual delivery of the goods was intended on either side, that the agreements were by way of wager and were illegal and void

(3.) The trial Court found that the transactions in suit were wagering transactions and dismissed the suit. The District Judge came to the conclusion that the original contract by the plaintiffs to deliver live bales to the defendant was a wagering contract, that there was no intention on either side to give or take delivery and, therefore, agreed with the judgment of the Court below dismissing the plaintiffs suit.