Lesson 13 traces the history of arbitration in India. Which statute wa…

Question

Lesson 13 traces the history of arbitration in India. Which statute was the consolidating and amending Act that PRECEDED the 1996 Act and was modelled on the English Act of 1899?

Accepted Answer

B. {'text': 'The Arbitration Act, 1940', 'label': 'B'}

1. Lesson 13 traces the chronological line of arbitration statutes in India.
2. The Civil Justice Committee in 1925 recommended changes; on the basis of those recommendations, the **Arbitration Act, 1940** was passed.
3. The 1940 Act was a "consolidating and amending Act and an exhaustive code insofar as the law relating to arbitration is concerned".
4. The 1940 Act became outmoded and was replaced by the Arbitration and Conciliation Act, 1996, modelled on the UNCITRAL Model Law.
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 13 (Arbitration and Conciliation Act, 1996), pp. 297-303._

Answer

{'text': 'The Indian Contract Act, 1872 in respect of every dispute arising under any commercial transaction in any State of India under any law in force in any State of India regardless of any other consideration', 'label': 'A'}

Answer

{'text': 'The Code of Civil Procedure, 1908, Schedule II read with Sections 312 to 327 in respect of every dispute under any commercial transaction in any State under any law in force regardless of any consideration', 'label': 'C'}

Answer

{'text': 'The Indian Penal Code, 1860 in respect of every dispute arising under any commercial transaction in any State of India under any law in force in any State of India regardless of any other consideration of any kind', 'label': 'D'}