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Madras High Court
In Re: Reference From The Board Of … vs Unknown on 9 October, 1883
Author: C A Kt.
Bench: C A Kt., Kernan, Kindersley, M Ayyar, Hutchins


JUDGMENT

Charles A. Turner Kt., C.J.

1. We do not understand that, as is contemplated by the Government, a percentage is actually set apart for the contractor and retained.

2. We understand the terms of the contract, on which the question arises, to amount to this, that the contractor waives the prompt payment of a percentage of the sum to accrue due to him, and agrees that the Government may set off against it what sums it may be entitled to recover from him by reason of breach of contract. It is not, as has been suggested, a mortgage of the percentage of which present payment is postponed: for the property remains in the Government till the sum necessary to pay the amount retained is paid to the contractor, or at least severed from bulk and assigned for such payment. The contract is an agreement and chargeable with stamp duty as an agreement.


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