Court : Kerala
Reported in : AIR1999Ker72
..... have a peep into the sanctity of bank guarantees in commercial transactions. section 126 of the indian contract act, 1872 defines 'contract of guarantee' as a contract to perform the promise, or discharge the liability, of a third person in case of his default. the contract of guarantee is a trilateral contract, that is to say three persons, surety, principal debtor and creditor are involved. generally speaking ..... injunction is to restrain the bank from performing the bank guarantee which cannot be done whereas the respondent could sue the appellant for damages.20. section 17 of the indian contract act defines 'fraud'. it is a comprehensive term and embraces large number of delinquencies. a person who alleges fraud must give particulars thereof in his pleadings. it must be established ..... supreme court in new india assurance company ltd. v. kusumanchi kameshwara rao and another (1997) 9 scc 179 held that as per sections 91 and 92 of the indian evidence act, 1872 no evidence dehors the terms of the agreement, whether documentary or oral, can be led by the parties to get out of the express terms thereof. it further held :'whether ..... against dues to greater cochin development authority/hscl if any.14. it is no doubt true that the terms and conditions of the contract do not specifically refer to the payment of contribution under the welfare fund act. that does hot mean the whole transaction is vitiated for exercise of fraud. whether such payment falls under any general provisions of the .....Tag this Judgment!
Court : Gujarat
Reported in : AIR1962Guj266
..... delivered to the administration to be carried by railway shall, subject to the other provisions of the act, be that of a bailee under sections 151, 152 and 161 of the indian contract act 1872 (9 of 1872).'section 161 of the contract act reads as under 'if by the default of the bailee, the goods are not returned, ..... the instant case, the consignor or the bailor has not filed the suit, but the suit has been filed by the consignee, under section 161 of the contract act, in the case of bailment the bailee is responsible only to the bailor, and if a person, who is not a bailor, files a suit against ..... this question also need not be further pursued in view of the fact section 161 or the contract act clearly provides that the bailee is responsible only to the bailor. it is not stated in section 161 of the contract act that the bailee is responsible to the owner of goods bailed.7. in any case, it ..... the bailor, that is the consignor, and this is not a case in which section 226 of the contract act is sought to be applied, because it is not suggested by the plaintiff that the consignor was acting as his agent. the learned small cause court judge was, therefore, wrong in passing a decree in ..... of goods to the railway. the word 'bailment' is thus defined in section 148 of the indian contract act :-'a 'bailment' is the delivery of goods by one person to another for some purpose upon a contract that they shall, when the purpose is accomplished, be returned or disposed of according to the directions of .....Tag this Judgment!
Court : Chennai
Reported in : AIR2001Mad489
..... the said condition in the policy is valid and acceptable. before considering the decision of the supreme court, it is useful to refer the unamended section 28 of the indian contract act, 1872, which stood as on the relevant date:-'28. agreement in restraint of legal proceedings void, -every agreement, by which any party thereto is reslricted absolutely from enforcing his rights under ..... . s. sampathkumar, learned counsel appearing for the respondent/plaintiff, by drawing our attention to amended section 28 of the indian contract act, 1872, would contend that condition no.19 of the policy is void. he also brought to our notice the amendment act i of 1997 published in the gazette of india, extraordinary, part ii, section 2 dated 8.1.1997. amended section 28 ..... in effect seeks to curtail the period of limitation and prescribes a shorter period than that prescribed by law would be void as offending section 28 of the contract act. that is because such an agreement would seek to restrict the party from enforcing his right in court after the period prescribed under the agreement expires even though the period ..... time being as to reference to arbitration.' with reference to the condition of the policy providing shorter period than the period prescribed by law, namely, section 28 of the indian contract act, the supreme court in the above decision has held thus:- (para. 17)'17. from the case law referred to above the legal position that emerges is that an agreement which .....Tag this Judgment!
Court : Chennai
Reported in : AIR1960Mad520
..... claim for damages will not lie.(6) the law covering both these points is the same in england, u. s. a. and india.(7) before the passing of the indian contract act, 1872, the rules of english law, including those in the statute of frauds were applied within the limits of the presidency towns. the 'sales' chapter of the indian ..... 27 an exhaustive examination of the case law bearing on certain portions of the indian contract act was made and in 1928 a draft bill was prepared under the aegis of the late d. f. mulla who was then the law member of the government of india ..... generally the english law on the subject as it then stood, except in one or tow important particulars e. g., market-overt. the indian contract act only laid down simple and elementary rules. it was not exhaustive and on various occasions the courts had to import analogies from the decisions of the english courts.in 1926- ..... the affirmative intention of the parties. it is a child of the law. because of the acts of the parties, it is imposed by the law. it arises independently and outside of the contract. the law annexes it to the contract. it writes it, by implication, into contract which the parties have made. its origin and use are to promote high standards in business .....Tag this Judgment!
Court : Chennai
Reported in : AIR1988Mad167
..... contract as the amount to be paid in case of such breach, or if the contract contains any other stipulation byway of penalty, the party ..... suit is not maintainable in view of the provisions contained in kerala cooperative societies act, 1961.5. before considering the questions raised we will do well by examining the relevant provisions of the contract act, 1872, relating to the award of compensation for breach of contract. sec. 74 of the contract act reads as follows -'when a contract has been broken, if a sum is named in the ..... , krishnapurarn 1973 t.l.n.j. 520, where the division bench observed as followed - -'on the other question of liability under bye-law 39 read with s. 74 of the contract act, sec. 74 will have to be read as a whole. it speaks of the grant of reasonable compensation. but the idea of compensation implies losses. the expression 'reasonableness' in s ..... compensation not exceeding the amount so named or, as .the case may be, the penalty stipulated for.'according to the appellant the claim for compensation under s. 74 of the contract .act, the actual damage incurred by the respondent on account of the breach will have to be proved in accordance with law even though the quantum of damage is mentioned in .....Tag this Judgment!
Court : Mumbai
Reported in : 2001(4)ALLMR111; (2001)3BOMLR273
..... but is jointly and severally liable together with second defendant for meeting the dues of the first plaintiff. under section 126 of the contract act, 1872 a contract of guarantee is a contract to perform the promise, or discharge the liability of a third person in case of his default. the first defendant has not assumed ..... the second defence which is sought to be urged was that the first defendant was acting as an agent of a disclosed principal and, therefore, is not liable by virtue of the provisions of section 230 of the contract act. there is no substance in the said defence. an obligation was expressly assumed by ..... conditions governing the issuance of such release orders are concerned, it would be necessary to note that clause 2 of the general terms and conditions of contract provided that an agency commission of 15% will be paid to the agency on the rate specified in the rate card. clauses of these terms ..... defendant for advertising its products and issuing release orders to the second plaintiff. it is sought to be alleged that there was no privity of contract between the first defendant and the second plaintiff.8. in assessing the tenability of the defence urged on behalf of the first defendant, it is ..... a company in respect of which a reference under section 16 of the act has been registered or in respect of which any of the proceedings referred to in section 22 are pending. however, having regard to the contract between the parties, it would be clear that the role of the first .....Tag this Judgment!
Court : Mumbai
Reported in : 1993(2)BomCR301
..... taxes, they could not be and were therefore not informed of the antedating being a device to defraud the revenue. section 23 of the indian contract act, 1872, specifies the different categories of unlawfulness affecting the consideration or object of agreements. one such category is where the court regards it as opposed to public ..... consideration of the transaction and not the reasons or motive which prompted it..... certain objects of contract are forbidden or discouraged by law, though all other requisites for the formation ..... the purpose and design which is the object of the contract, if it is opposed to public policy which tends to defeat any provision of law or purpose of law, it becomes unlawful and thereby it is void under section 23 of the contract act. section 23 is concerned only with the object or ..... claims for mean profits or arrears of rent in respect of the property claimed or any part thereof; (b) claims for damages for breach of any contract under which the property or any part thereof is held; and (c) claims in which the relief sought is based on the same cause of action; ..... to the said agreement. plaintiff relies on a statement in the same authority at page 86 which speaks of the stigma of voidness attaching to contracts of a fraudulent nature to defeat the rights of third parties. but it is not as if the entire transaction recorded in ex.j is .....Tag this Judgment!
Court : Mumbai
Reported in : 121CompCas12(Bom); 56SCL339(Bom)
..... identity. they are in a fungible form. it is, therefore, clear that such shares cannot be pledged in accordance with the provisions of the indian contract act, 1872, which requires delivery of the goods pledged. section 172 of the contract act reads as follows :'172. 'pledge', 'pawnor' and 'pawnee' defined.--the bailment of goods as security for payment of a debt or performance of a ..... be validly created in accordance with the provisions of the depositories act, 1996,22. in the present case, it is an admitted fact by the plaintiffs that the plaintiffs did ..... the case may be,'21. it is, therefore, clear that the act and the regulations contain a whole and self-contained procedure for the creation of pledges. in any case, since it is not possible to physically deliver demoted shares and therefore pledge them in accordance with the indian contract act, 1872, it must be held that a pledge of such shares can only ..... the transfer of shares in the present case can be taken to be a pledge in law. therefore, there can be no question of applicability of section 176 of the contract act which requires the pledgee to give a notice to the pledger of his intention to transfer the pledged goods. this aspect is being considered because at one stage it was .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : AIR1959AP84
..... be carried by railway shall, subject to the other provisions of the act, be that of a bailee under sections 151, 152 and 161 of the indian contract act, 1872 (ix of 1872). *** *** (3) nothing in the common law of england or in the carriers act, 1865, regarding the responsibility of common carriers with respect to the ..... 26th december 1953 the burden was upon the respondent to prove that proper care had been taken of them as required by section 151 of the contract act. the solitary witness produced by the respondents does not say a single word in that behalf and he is not in a position to say ..... express statutory legislation contained in section 72(d) and (3) of the railways act read with sections 151, 152 and 161 of the contract act.section 152 of the contract act provides that the bailee, in the absence of a special contract is not responsible for the loss or destruction or deterioration of the thing bailed, ..... free from the high degree of liability imposed on a common carrier in england. their liability in a case not affected by contract and any other provision in the railways act, starts only at the level of the liability of bailee, that is to say, to take us much care of the ..... conditions upon which the railway administration will warehouse goods on behalf of the consignee or the owner, that the railway was not acting as bailee and that was a clear case of fresh contract of bailment as warehousemen.reliance was placed upon bengal and north-western rly. y. mulchand (c), secy. of state .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : AIR2006AP212
..... . the counsel also pointed out to relevant provisions of the evidence of dw-1, dw-2 and dw-3 as well and had explained the relevant provisions of the indian contract act 1872 in this regard. the learned counsel with all emphasis would maintain that having taken the services of pw-1 to the maximum extent for the purpose of dereservation and having ..... contents thereof. the learned counsel also made elaborate submissions in relation to implied agency and ratification while drawing the attention of this court to the relevant provisions of the indian contract act 1872. the learned counsel also would maintain that at the lime of the execution of the agreement the same was proceeded on the ground that the executants alone are the owners ..... is a necessary party to the suit for enforcing the mortgage security. that is the position warranted by section 6 of the hindu succession act, read with section 67 of the transfer of property act, section 45 of the contract act and order 34, rule 1, c.p.c. the clear language of that section leads to that conclusion.pw-1 on the aspect ..... -parties to the agreement of sale in question are bound by the agreement of sale or not. in indian contract act and specific relief act, pollock and mulla, volume ii, on the aspect of 'implied ratification' it was stated:ratification can be implied from any act which reflects the conscious adoption of the transaction. it can even be inferred from silence or mere acquiescence .....Tag this Judgment!