Section 76 Contract Act Explained: On rescission, any gain from contract to be restored | Nyaya

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What does Section 76 of Contract Act say?

Section 76 of the Indian Contract Act deals with the effect of rescission on any gain from the contract. The section states: "On rescission of a contract, any gain derived from the contract by any party must be restored to the other party." The section aims to prevent parties from benefiting from a contract that has been rescinded. The Supreme Court has held that any gain derived from the contract must be restored, whether it is in the form of money, property, or services.

Indian StandardSection 76, Indian Contract Act, 1872

Bluebook (21st ed.)Indian Contract Act, 1872, § 76 (India)

Court Pleading StandardSection 76 of the Indian Contract Act, 1872

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

Common Questions about Section 76 Contract Act

What is Section 76 of Contract Act?

Section 76 of the Indian Contract Act, 1872 (Contract Act) defines and regulates "On rescission, any gain from contract to be restored". The section states: Section 76 of the Indian Contract Act deals with the effect of rescission on any gain from the contract. The section states: "On rescission of a contract, any gain derived from the...

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