( 1 ) THIS appeal by the defendant has been preferred against the decree and judgment dated August 23, 1975 made in o. S. No. 10 of 1971 by the Civil Judge, bellary.

( 2 ) BRIEFILY stated the facts are these : plaintiff is a registered firm and so too the defendants. They are carrying on business as mineral dealers. On february 1, 1968 the defendants firm (collectively called 'the defendant') entered into an agreement with the plaintiff at Madras to sell 600 tonnes of red-oxide at Rs. 50/- per tonne F. O. R. Torangallu, Hospet, Bellary, In consideration for the sale of red oxide, plaintiff paid Rs. 30,000/- to the defendant. The delivery was required to be made within 45 days from the ready stock available at Bellary. The time was considered as of the essence of the agreement. If the goods were not delivered within 45 days, plaintiff could ask for refund of the purchase price. The defendant was having its head office at madras and a Branch Office at Bellary. The Head Office sent instructions to the branch Office apprising the latter of the agreement and asking to comply with the terms thereof. But the defendant did not supply the goods within the stipulated ti