Law:

Section:

Contract Act (IX of 1872)-------Ss. 2(a), 7 & 10---"Offer", "Acceptance" and "formation of a legally binding contract"---Scope---- Plaintiff had contended that the defendant increased prices of items supplied to it despite the fact that there was a binding agreement between the parties wherein it was stipulated that the defendant would not increase prices more than a certain percentage for three years---Contention of the defendant was that there was no binding agreement between the parties and there existed only an understanding---Held, that perusal of letter written by plaintiff to defendant showed that the same was an offer and a subsequent letter which was written by the defendant was an "acceptance" letter, which created a binding contract between the parties---Defendant had not only accepted the offer but had also performed the conditions of the proposal by not increasing rates for two years, which established, that a valid contract had been concluded between the parties---Offer made by the plaintiff was accepted by defendant in absolute terms and also the benefit of the contract was extended to the plaintiff for a period of two years which itself showed that a valid contract in terms of section 10 of the Contract Act, 1872 had been executed between the parties---No illegality existed in the impugned order---Revision was dismissed. Hafiz-ur-Rehman Sayyed for Petitioner. Miss Ayesha Hamid for Respondent No.1. Khurshid Ahmad Satti, A.A.-G. ORDER M. SOHAIL IQBAL BHATTI, J.--- This Civil Revision is filed against the judgment and decree dated 14-3-2005 passed by the learned Additional District Judge, Jhelum. 2. Brief facts of the case are that prior to the commencement of the Financial year 1992-1993 the petitioner proposed 100% increase in the rates of octroi duty on all items including limestone and gypsum. Respondent No.1 filed objections to this increase; and thereafter negotiations ensued between the petitioner and respondent No.1 and consequent to those negotiations the respondent agreed to withdraw its objections. It was further agreed by the petitioner that 23% increased rates would remain fixed between the parties for the next three years i.e.…

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