Docsity
Docsity
Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity

Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan

Guidelines and tips
Guidelines and tips
Sell on Docsity
Sell on Docsity
Docsity AI
Docsity AI
Log inSign up

Prepare for your exams

Study with the several resources on Docsity

Find documents

Prepare for your exams with the study notes shared by other students like you on Docsity

Search for your university

Find the specific documents for your university's exams

Docsity AINEW

Summarize your documents, ask them questions, convert them into quizzes and concept maps

Explore questions

Clear up your doubts by reading the answers to questions asked by your fellow students

Earn points to download

Earn points by helping other students or get them with a premium plan

Share documents
download point icon20 Points

For each uploaded document

Answer questions
download point icon5 Points

For each given answer (max 1 per day)

All the ways to get free points
Get points immediately

Choose a premium plan with all the points you need

Study Opportunities

Choose your next study program

Get in touch with the best universities in the world. Search through thousands of universities and official partners

Community

Ask the community

Ask the community for help and clear up your study doubts

Free resources

Our save-the-student-ebooks!

Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors

Contract Law: Indemnity, Guarantee, Bailment, and Partnership, Assignments of Contract Law

Karnataka State Law UniversityContract Law

An in-depth analysis of various contracts including contract of indemnity, contract of guarantee, contract of bailment, and contract of partnership. It covers the definitions, distinctions, essentials, parties, rights, duties, and case laws related to each contract type. Additionally, it discusses the concept of pledge, the rights of the pawnor/pledger and pawnee/pledgee, and the differences between bailment and pledge.

Typology: Assignments

2020/2021

Uploaded on 09/13/2022

vajeem-raja
vajeem-raja 🇮🇳

5 documents

1 / 8

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
[Contract-2] [Page 1 of 8]
Contract-II (Special Contracts)
Unit-1: Contract of Indemnity
Define contract of indemnity and what are the rights of an indemnity holder? J2019
Define contract of indemnity. State the distinctions between contract of indemnity and contract of guarantee D2019
Define contract of indemnity. State the distinctions between contract of indemnity and contract of guaranteeD2019
I).Introduction
II).Definition/Interpretation
III).Example/Illustration
IV).Parties of Indemnity contract
V).Case laws for Indemnity contract
1).Claiming indemnity
2).Implied Indemnity
VI).Essentials/Features/Nature of indemnity contract
1).Valid contract
2).Anticipated loss
3).To saves other party
4).Covers only the actual loss
5).Depend on good faith
6).May be expressed or implied
VII).Rights of an indemnity holder (Promisee)PYQ
1).All Damages
2).All Costs
3).All Sums
VIII).Rights of Indemnifier (Doctrine of Subrogation)
1).Rights when IH acts negligently
2).Rights when IH acts with bad intention
3).Rights when IH acts against Promisor
4).Rights against third party
5).Rights for damages (compensation)
IX).d/b Contract of Indemnity and Contract of GuaranteePYQ
1).Purpose of contract
2).Number of Parties
3).Number of contracts
4).Nature of liability
5).Consideration
6).Commencement of liability
7).Discharge from liability
8).Nature of contract
9).Right to reimbursement
10).Number of promisor
11).Scope
Unit-1: Contract of Guarantee
Explain the rights of the surety J2019
Write a short note on: Continuing contract of guarantee J2019
What is contract of guarantee? Explain the various modes of discharge of surety from his liability D2019
Write a short note on ‘Rights of the surety’ D2019
I).Definition
II).Parties of Contract of Guarantee
1).Surety
2).Principal debtor
3).Creditor
III).A Surety and his liability
1).Surety is co-extensive
1.1).Info
1.2).Case law
a).<Narayan Singh v. Chhatarsingh and , 1973>
b).<Harigopal Agrawal v. State Bank Of Inida, AIR 1956>
c).<Kelappan Nambair v.kunhi Raman, AIR 1957>
pf3
pf4
pf5
pf8

Partial preview of the text

Download Contract Law: Indemnity, Guarantee, Bailment, and Partnership and more Assignments Contract Law in PDF only on Docsity!

Contract-II (Special Contracts) Unit-1: Contract of Indemnity Define contract of indemnity and what are the rights of an indemnity holder?J Define contract of indemnity. State the distinctions between contract of indemnity and contract of guaranteeD Define contract of indemnity. State the distinctions between contract of indemnity and contract of guaranteeD I).Introduction II).Definition/Interpretation III).Example/Illustration IV).Parties of Indemnity contract V).Case laws for Indemnity contract 1).Claiming indemnity 2).Implied Indemnity VI).Essentials/Features/Nature of indemnity contract 1).Valid contract 2).Anticipated loss 3).To saves other party 4).Covers only the actual loss 5).Depend on good faith 6).May be expressed or implied VII).Rights of an indemnity holder (Promisee)PYQ 1).All Damages 2).All Costs 3).All Sums VIII).Rights of Indemnifier (Doctrine of Subrogation) 1).Rights when IH acts negligently 2).Rights when IH acts with bad intention 3).Rights when IH acts against Promisor 4).Rights against third party 5).Rights for damages (compensation) IX).d/b Contract of Indemnity and Contract of GuaranteePYQ 1).Purpose of contract 2).Number of Parties 3).Number of contracts 4).Nature of liability 5).Consideration 6).Commencement of liability 7).Discharge from liability 8).Nature of contract 9).Right to reimbursement 10).Number of promisor 11).Scope Unit-1: Contract of Guarantee Explain the rights of the suretyJ Write a short note on: Continuing contract of guaranteeJ What is contract of guarantee? Explain the various modes of discharge of surety from his liabilityD Write a short note on ‘Rights of the surety’D I).Definition II).Parties of Contract of Guarantee 1).Surety 2).Principal debtor 3).Creditor III).A Surety and his liability 1).Surety is co-extensive 1.1).Info 1.2).Case law a).<Narayan Singh v. Chhatarsingh and , 1973> b).<Harigopal Agrawal v. State Bank Of Inida, AIR 1956> c).<Kelappan Nambair v.kunhi Raman, AIR 1957>

2).A surety in continuing guarantee 2.1).Info 2.2).example IV).Rights of SuretyPYQ 1).Rights against the Creditor 1.1).Right to Claim Securities (Sec-141) a).When surety can recover all the securities? 1.2).Right to Request/Before the Payment of the Debt Guaranteed 1.3).Rights in Case of Fidelity Guarantee (Sec-129) 1.4).Right of Equities 1.5).Right of Set-off (or) Doctrine of Equitable Set-Off 2).Rights against the Principal Debtor 2.1).Right of subrogation/Rights on payment or performance (Sec-140) 2.2).Rights to indemnity (Sec-145) 2.3).Right to be Relieved Earlier 3).Rights against the co-sureties 3.1).Effect of releasing a surety (Sec-138) 3.2).Right to contribution (Sec-146) 3.3).Right to recover (Sec-147) V).Mode of discharge of surety from his liabilityPYQ 1).By Revocation 2).By Death 3).By Variance in the terms of the contract 4).By Release/discharge of principal debtor (Sec-134 of ICA) 5).By Creditor not to sue principal debtor (Sec-135 ICA) 6).By Creditor's act/omission impairing surety's eventual remedy 7).By Loss of Security by the Creditor (Sec-141) 8).By Invalidation of Contract 9).By Novation VI).Continuing guarantee (Surety) PYQ 1). Continuing guarantee-Meaning 2). Features of continuing guarantee 3). Revocation of continuing guarantee 4). Modes of Revocation of Continuing Guarantee 5).Case laws Unit-2: Contract of Bailment Define contract of bailment and what are the features of contract of bailment?J What is Bailment? Explain its important features with decided cases.D I).Basics of bailmentBasic 1).Introduction 2).Definition-Bailment, Bailor, Bailee 3).Explanation 4).Illustration II).Essentials/Features/Elements of BailmentPYQ 1).Agreement 2).Delivery of goods 3).Return of goods 4).Movable Property 5).Definite Purpose 6).Exception III).Duties of BailorGen 1).Disclosure of known faults: 2).Bear unordinary expenses of bailment: 3).Indemnification of bailee: 4).Receive backs the goods: IV).Duties/Liabilities of Bailee Gen 1).Reasonable care of the goods 2).Not use the goods inconsistently with the contract 3).Not to mix the goods bailed with own goods 4).Not to set up an adverse title 5).Return accretion to the goods 6).Return the goods V).Rights of Bailor Gen 1).Enforcement of Rights

Write a short note on ‘termination of agency.’D I).Definitions and MeaningsGen 1).Agent, Principal and Agency: 2).Who can appoint an Agent? 3).Who may be an Agent? II).Duties of an Agent PYQ 1).Agent’s duty not to delegate his authority 2).To act on behalf of the principal: 3).In conducting principal's business: 4).Skill and diligence required from agent: 5).Duty to renders proper accounts: 6).Duty to communicate with principal: 7).Not to deal on his own Account: 8).Not to make Secret Profits: 9).Duty to pay sums received for principal: 10).Not to Disclose Secret: 11).Other duties: III).Rights of an Agent PYQ 1).Right to Receive Remuneration when due: 2).Right of Lien: (Agent's lien on principal's property) 3).Right to Indemnity: 4).Right to Compensation: 5).Other rights of an agent: IV).Various modes of termination of contract of agency PYQ 1).Introduction 2).Termination of agency 3).When the agency cannot be terminated? 4).When Termination takes Effect? V).Ratification PYQ 1).Doctrine of ratification 2).Example: 3).Provision for Ratification in Indian Contract Act 1872: 4). Agency by ratification 5).Essential of valid ratification: 5.1).The agent must purport to act as agent for a principal who is in contemplation: 5.2).There should be an act capable of ratification: 5.3).The principal must be in existence: 5.4).The principal must be competent to contract: 5.5).The principal must have full knowledge of material facts: 5.6).Whole transaction must be ratified: 5.7).Within reasonable time: 5.8).Ratification must not injure a third person (Sec. 200): VI).Effect of Ratification: The Doctrine of Relation Back Unit_4_Contract_of_Partnership Explain the procedure for registration of a partnership firm and what are the consequences of non-registration?J Discuss the different modes of dissolution of partnership firmJ Write a short note on: Types of partnersJ What is partnership? State the types of partnersD Explain the rights and duties of partners in briefD Write a short note on ‘Effects of non-registration of partnership firm.’D I).Basics of partnership actBasic 1).Introduction 2). Definition of “Partnership", "partner", firm" and "firm name" II).Types of partners  PYQ 1).Introduction: 2).Type of partners: 2.1).Type of partnership as per “izzihub.com”: 2.2).Type of partnership as per “lawfulindia.com”: 3).Details about few types of partners 3.1).Active Partner/Working Partner/Managing Partner: 3.2).Dormant/Sleeping Partner/Financing Partner: 3.3).Nominal Partner: 3.4).Partner by Estoppel: 3.5).Partner in Profits Only: 3.6).Minor Partner: 3.7).Secret Partner: 3.8).Limited Partner: 3.9).Partner by Holding Out:

3.10).Sub – Partner: III).Rights of partners PYQ 1).Right to take part in the conduct of the business [Section 12(a)] 2).Right to be consulted [Section 12 (c)] 3).Right to Access and inspect the books [Section 12(d)] 4).Right to Claim Remuneration [Section -13(a)] 5).Right to Profit [Section -13(b)] 6).Right to Interest on Capital [Section -13(c)] 7).Right to Interest on Advance [Section -13(d)] 8).Right to Indemnify [Section -13(e)] 9).Right to stop the admission of a new partner [Section -31] 10).Right to retire [Section -32(1)] 11).Right not to be expelled [Section -33] 12).Right of outgoing partner to carry on a competing business [Section -36(1)] 13).Right of outgoing partner to share subsequent profits [Section -37] 14).Right to dissolve the firm [Section -40] IV).Duties of partners PYQ 1).General duties of a partner [Section-9] 2).To indemnify for fraud [Section-10] 3).To indemnify for willful neglect [Section-13(f)] 4).To attend duties diligently without remuneration [Section-12(b), 13(a)] 5).To share losses [Section-13(b)] 6).Proper use of Partnership Firms Property [Section 15] 7).To account for any profit [Section-16(a)] 8).To account and pay for profits of competing for business [Section-16(b)] V).Registration of a firm as a partnership firm PYQ 1). Preparations for registration 1.1).Making an application 1.2).Naming a Partnership Firm 1.3).Supportive documents along with application a).Application b).Affidavit c).Partnership Deed d).PAN card of partners e).Address proof of partners f).Address Proof of firm f1).For rented place f2).For own place 1.4).Fee for Registration 2).Submit an application 3).Verification of an application 4).Appeal against order of registrar 5).Entry of Statement in a Register VI).Other registration required for Partnership firm PYQ 1).Apply PAN Card for firm (Form 49A) 2).Open a Bank Account 3).GST Registration VII).Consequences/Effects of non-registration PYQ 1).No suit by a partner against other partners or firm: 2).No suit against any third party: 3).No suit by a partner against dissolved firm: 4).No right to counter claim or to claim setoff: 5).No right to enter into arbitration proceedings: 6).A third party can sue the firm: VIII).Discuss the different mode of dissolution of partnership firm PYQ 1).Meaning of dissolution of partnership firm 2).Various Modes of Dissolution of Partnership Firm 2.1).By Agreement (section 40) 2.2).Compulsory dissolution (section 41) 2.3).By the happening of certain events (section 42) 2.4).By the partnership at will (section 43) 2.5).By the court (section 44) a).Unsound mind/insanity: b).Incapability: c).Misconduct: d).Continuing Breach of Contract: e).Transfer of interest: f).Perpetual or Continuous losses: g).Other grounds

9.3).Various Implied Warranties: a).Warranty as to quiet possession Section 14(b) b).Warranty of freedom from encumbrances Section 14(c) 10).Difference b/w Patent defect and Latent defect 11).References IV).Unpaid seller -Meaning and ExamplePYQ 1).Seller 2).Unpaid Seller 3).Example V).Rights of an unpaid sellerPYQ 1).Right against goods after it transferred 1.1).Right of Lien More: Termination or Loss of lien 1.2). Right of stoppage in goods in transit More: Cases to not stoppage the goods in transit Cases not to end of the transit Cases to end of the transit/Termination/loss of right of stoppage 1.3). Right to resale a).If the buyer fails to pay b).If the seller sells without the notice to the buyer 2). Right against goods before it transferred 2.1).Right of withholding delivery 3).Right against the buyer personally 3.1).Suit for price 3.2).Suit for damages for non acceptance 3.3). Suit for special damage and interest VI).Doctrine of caveat emptor (Caution Buyer/Let the buyer beware) PYQ 1).Introduction 2).Case laws 3).Exception to Caveat Emptor 3.1).Purchase by Description [Section 15] 3.2).Purchase by samples and Description [Section 15] 3.3).Fitness for purpose [Section 16 (1)] 3.4).Merchantable Quality [Section 16(2)] 3.5).Consent By Fraud [Section] 3.6).Sale By Sample [Section 17] 3.7).Conditions as to title [Section 14 (a)] VII).Nemo dat quod non habet PYQ (No one can transfer a better title than he himself has) 1).Introduction 2).Rule of ”Nemo dat quod non habet” 2.1).As a basic rule 2.2).As a principle of “derivative” 2.3).As a principle of “first in time is first in right” 3).”Nemo dat quod non habet” in “Sale of Goods Act 1930” 3.1).Meaning 3.2).Definition 3.3).Explanation 3.4).Example 3.5).Case laws 3.6).Concerns on “Nemo dat quod non habet” 4).Exception to “Nemo dat quod non habet” 4.1).Transfer of Title by EstoppelSec-27(1st Para, Last statement) a).Meaning b).Example c).Estoppel in SOGA 1930 d).How Estoppel arises? d1).Estoppel by act or omission: d2).Estoppel by negligence: 4.2).Transfer of Title by Mercantile AgentSec-27(2nd Para)

a).Sale by mercantile agent b).Conditions required to sale the goods by mercantile agent b1).The person should be a mercantile agent b2).In possession as mercantile agent b3).With owners consent b4).Must sells while acting as mercantile agent b5).Good faith and without notice 4.3).Sale by one of the joint ownersSec- 4.4).Sale by person in possession under voidable contractSec- 4.5).Seller in possession after sale Sec-30(1) 4.6).Buyer in possession before sale Sec-30(2) 4.7).Sale by an unpaid sellerSec-54(3) 4.8).Sale under the provisions of other Acts