Insertaion of arbitration / jurisdiction clause
N.J. MISHRA
(Querist) 30 May 2012
This query is : Resolved
DEAR MEMBER KINDLY GUIDE ME ON BELOW MENTIOED QUERY: -
WHAT WILL BE THE LEGAL VALIDITY OF INSERTING ARBITRATION AND JURISDICTION CLAUSE IN EDUCATIONAL INSTITUE'S PROPECTUS. WHETHER IT WILL BE BINDING ON THE PARTIES
OR
THE SAID CLAUSES IS REQUIRED TO BE INSERTED IN SELF DECLARATION FORM.
MEMBERS KINLDY GUIDE ME WHAT WILL BE AN APPROPRIATE WAY.
R.K Nanda
(Expert) 30 May 2012
1. There 2 clauses are legal and valid.
2.Incorporate 2 clauses in Prospectus only.
3.These 2 clauses will be binding on both the parties.
N.J. MISHRA
(Querist) 30 May 2012
ONCE THE ARBITRATION CLAUSE IS INSERTED IN THE PROSPECTUS THEN IN FUTURE WE CAN CHALLENGE THE JURISDICTION OF CONSUMER FORUM OR CIVIL COURT UNDER SECTION 8 OF ARBITRATION AND CONCILIATION ACT IF THE MATTER IS FILED IN THESE COURTS.
Shonee Kapoor
(Expert) 30 May 2012
Yes, the matter would first go to arbitration.
But arbitration doesnot mean that decision of the arbitrator can not be challanged.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
N.J. MISHRA
(Querist) 30 May 2012
SELF HAS READ NUMBER OF NATIONAL COMMISSION'S JUDGEMENT WHEREIN IT IS HELD THAT TERMS AND CONDITIONS OF PROSPECTUS ARE ONE SIDED HENCE, THE SAME IS CONSIDERED AS UNFFAIR TRADE PRACTICE AND IS VOID AND UNEFORCEABLE IN LAW.
IS THERE ANY PROVISION IN INDIAN CONTRACT ACT WHICH SAYS THAT ONE SIDED CONTRACT IS VOID.
MEMBERS KINLDY HELP
ajay sethi
(Expert) 30 May 2012
arbittartion clause is only relating to jurisdiction in case of disputes . it does not make contarct void as one sided .
Suhail A.Siddiqui
(Expert) 30 May 2012
Although people mention both of these (Jurisdiction & Arbitration) in their booklet but changeable in court, so draft carefully.
