The book critically examines the historical, philosophical, and comparative foundations of the Indian Contract Act, 1872, and its evolution through landmark Supreme Court rulings.
NEW DELHI / March, 2025: A landmark book that promises to redefine the study of contract law in India was unveiled at a high-profile event in Delhi organized by Shiv Nadar School of Law (Shiv Nadar University Chennai) and the National University of Singapore. Hon’ble Justice Mr. KV Viswanathan, Judge, Supreme Court of India, and Dr. Abhishek Singhvi, Senior Advocate, Supreme Court of India, Member of Parliament, and Former Additional Solicitor General of India, were the Guests of Honor.
Titled “Foundations of Indian Contract Law,” the book has been published by Oxford University Press. It is co-edited by Prof. Shiv Swaminathan (Dean, Shiv Nadar School of Law); Prof. Umakanth Varottil (National University of Singapore); Dr. Niranjan Venkatesan KC (Barrister, One Essex Court, London), and Dr. KV Krishnaprasad (Barrister, One Essex Court, London).
The book critically examines the historical, philosophical, and comparative foundations of the Indian Contract Act, 1872, and its evolution through landmark Supreme Court rulings. It features contributions from leading academics and practitioners, bridging the gap between theory and practice. It also critically looks at the evolution of contract law, identifies gaps in interpretation, and encourages stakeholders to apply these insights in contract drafting, formation, and dispute resolution.
Said Prof. Shiv Swaminathan, Dean, Shiv Nadar School of Law: “This book represents a significant step in re-examining the foundations of Indian contract law. Our goal is to equip scholars, practitioners, and policymakers with a deeper understanding of contract law’s evolving principles and their real-world implications. Given India’s growing role in the global economy, a nuanced approach to contract law is more important than ever. This book is poised to shape the future of contract law in India, influencing legal professionals, businesses, and policymakers alike.”
Said Prof. Umakanth Varottil, Associate Professor, Faculty of Law, National University of Singapore: “Given India’s common law roots, the book benefits from an international perspective, with expert contributions from legal scholars across India, the UK, Australia, New Zealand and Singapore. This cross-jurisdictional approach sheds light on how legal principles are adapted globally and informs potential reforms in India. By analyzing contract law through diverse legal lenses, the book provides a comparative framework that enhances understanding and interpretation, particularly in the context of high-value cross-border transactions and disputes in a globalized economy.”
Addressing the audiences, Hon’ble Justice Mr. KV Viswanathan, Judge, Supreme Court of India said: “The book critically examines and navigates the tension between upholding agreements and ensuring fairness. It explores the doctrines of coercion and to ensure its unconscionability in addressing power imbalances while also scrutinizing fraud, misrepresentation and mistake for their doctrinal coherence. This volume is not merely an academic endeavor. It’s an intellectual provocation, a challenge to the status quo, and an invitation to reimagine the trajectory of contract law. It does not settle for describing the law as it is. As I observed earlier, it dares to ask what the law should be. The themes explored in the Foundations of Indian Contract Law, which is being launched today, echo these competing perspectives. Indian courts, much like their common-law counterparts, continue to grapple with the challenge of ensuring both certainty and fairness in contractual interpretation. By interrogating the balance between contractual certainty and judicial intervention, economic efficiency, and equitable fairness, it compels jurists, practitioners, and policy makers to engage with the deeper questions that shape our legal systems. With these observations, I welcome the book. It will be a very useful addition in the directory of anyone who is concerned with law. I wish the book all success. I congratulate the publishers and once again congratulate the contributors for taking time out to come out with this exercise to distill the essence of the law of contract and present it in a very useful language.”
Added Dr. Abhishek Singhvi, Senior Advocate, Supreme Court of India, Member of Parliament, and Former Additional Solicitor General of India: “There are many reasons to applaud this contractual joint venture of diverse nationalities, cultures and approaches from diverse entities of excellence upon a subject of Indian Contract Law. Each of these 22-24 chapters reflect that approach and each theme tried to ask the difficult doctrinal questions and then tried to answer it. This book is not just a legal textbook, it is a contribution to the ongoing dialogue about how law and society interact in the context of Indian Contract Law. The book encourages us to think critically, fundamentally and conceptually about contract law and its future. It amazingly also performs the dual function of a very useful and a very up-to-date compendium on the Indian law of contract. It is not that it’s only thematic and as he said, not intended to cover everything. The book does serve as a very good compendium of Indian contract law. While the capacious contours of public law have far greater creative capacity to accommodate legal adventurism, judicial subjectivity based in perceived sense if justice and injustice, in the private law of contract, it shall not lead to the decline of the concept itself but the demise and ultimate cremation of contractual integrity.”
The event featured insightful talks by legal experts and academics on various topics. These included Nigam Nuggehalli (NLSIU, Bangalore) on Consideration; Shivprasad Swaminathan (Shiv Nadar School of Law) and Veda Singh (Advocate, Delhi High Court) on Coercion, Undue Influence, and Unconscionability; Thomas Sebastian (Essex Court Chambers, London) and Aman Ahluwalia (Advocate, Delhi High Court) on Illegality; Umakanth Varottil (National University of Singapore) on Restraint of Trade in India; Manasi Kumar (Jindal Global Law School) on the Duty of Good Faith; KV Krishnaprasad (One Essex Court, London) on Fraud, Misrepresentation, and Mistake; Steven Elliot KC (National University of Singapore, One Essex Court, London) on Rescission of Contracts Voidable for Lack of Free Consent; and Nilima Bhadbahde (ILS Law College) on Frustration.