These legal implications signify that the agreement will probably be binding with recourse to the court or arbitrator for its enforceability.

According to The Specific Relief Act 1877, the aggrieved party can oblige the breaching social gathering to complete the contractual obligation underneath the direct of a court docket. Even so, the availability of the specific performance remedy is limited on The idea of a few considerations:

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Provisions as to bonds, on the disposal of property, transfer of legal scenarios and supplementary provisions associated with European and Pakistan British topics and Other individuals. In addition, it specifies the carry out of irregular proceedings and miscellaneous matters.

Banking institutions which bank loan income to acquire ships, suppliers who source ships with necessaries like fuel and stores, seamen that are due wages, and several Other folks Possess a lien towards the ship to ensure payment.

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