Vidhi Codex

Bare Act

The Bombay Cotton Contracts Act, 1932

Civil193210 sections

The Bombay Cotton Contracts Act of 1932 regulates cotton trading in Bombay and the Island of Salsette. It applies to cotton traders, buyers, sellers, and recognized cotton associations. The law allows these associations to establish official boards and create enforceable by-laws governing transactions like forward and ready cotton contracts. It matters because it protects the honesty of the market by declaring any cotton contracts made outside these official rules completely void and legally unenforceable. Additionally, it protects market officers who carry out their duties in good faith from legal lawsuits, while preserving older contracts that complied with previous laws.

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  1. 1. Short title
  2. 2. This Act may be called the Bombay Cotton Contracts Act, 1932.
  3. 3. Definitions
  4. 6. Power of Board of Directors to make by-laws
  5. 7. Publication of by-laws
  6. 8. Void contracts
  7. 9. Repealed.
  8. 10. Repealed.
  9. 11. Bar of suits and proceedings against officers, etc.
  10. 12. Savings

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