(Firm) Kesho Das Ram Gopal – Appellant
Versus
Hazari Lal Chhanga Mal – Respondent
JUDGMENT
1. The following is. the Judgment of the District Judge from which the second Appeal came up before the High Court:
This is a plaintiff's appeal arising out of a suit for damages for non-delivery of 150 bags of sugar under a forward contract for January, February, March, 1920 delivery.
The defence that found favour with the lower Court was that the contract was a wagering one; and that is the one main question in this appeal.
To correctly appreciate the points in the case some general observations are necessary.
Sugar transactions at Cawnpore may be classified first under two heads.
1. Dealings in foreign imported sugar known as Java sugar. From the number of cases that have come before me, it may be provisionally accepted that about September, 1919 owing to wagon restrictions the import of this class of sugar was nominal and so, the prices went up from near Rs. 11 to near Rs. 40. There was a fever of speculation in the market and in case of dealings in such sugar it is not impossible to say that most of them were highly speculative and probably a good many of them bordered on, if not actually, wagering. A set of circumstances attending transactions on this class of sugar may, i
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