| Category of Bare Act | Name of the Act | Year of Promulgation |
|---|---|---|
| Civil Laws | Indian Contract Act, 1872 | 1872 |
| Act Number | Enactment Date | Chapter Number |
| 9 | 1872-04-25 | 4 |
| Chapter Title | Ministry | Department |
| Of the performance of contracts which must be performed | Ministry of Law and Justice, Legislative Department | Department of Law and Legislative Affairs |
Where the order in which reciprocal promises are to be performed is expressly fixed by the contract, they shall be performed in that order, and where the orders is not expressly fixed by the contract, they shall be performed in that order which the nature of transaction requires.
Illustrations
(a) A and B contract that A shall build a house for B at a fixed price. A’s promise to build the house must be performed before B’s promise to pay for it.
(b) A and B contract that A shall make over his stock-in-trade to B at a fixed price, and B promise to give security for the payment of the money. A’s promise need not be performed until the security is given, for the nature of transaction requires that A should have security before he delivers up his stock.