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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: karnataka Page 1 of about 2,055 results (0.019 seconds)

Jul 11 1986 (HC)

Kudremukh Iron Ore Co. Ltd. Vs. Korula Rubber Co. P. Ltd. and Another

Court : Karnataka

Reported in : [1990]68CompCas450(Kar)

..... are mostly used between the seller and the purchaser in order to see that the seller gets his money without much difficulty. 21. section 124 of the contract act defines the contract of indemnity as: 'a contract by which the one party promises to save the other from loss caused to him by the conduct of the promisor himself or by the conduct of ..... warrant interference by an injunction. 32. therefore a reference to the said various paragraphs would clearly bring out that there is a marked distinction between letters of credit, contracts of guarantee and contracts of indemnity. the said supreme court case involved only a letter of credit. therefore, the reliance placed by learned counsel, shri sundaraswamy, on the said decision will not help him ..... any other person, is called a `contract of indemnity''. 22. section 125 of the contract act reads: 'the promisee in the contract of indemnity, acting within the scope of the his authority, is entitled to recover from the promisor - (1) all damages which he may be compelled ..... . 16. to appreciate the said rulings referred to by both the advocates, it is necessary to find out the meaning of the words: (i) letter of credit; (ii) contract of guarantee ; and (iii) contract of indemnity. 17. the learned author h.p. sheldon, in his practice and law of banking, 8th edition (revised), has stated: 'letter of credit. - there are various kinds of .....

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Mar 12 2009 (HC)

Sri Krishnashetty S/O. Huchchappashetty Vs. the Oriental Insurance Co. ...

Court : Karnataka

Reported in : ILR2009KAR4111:2009(4)KCCRSN215:2009(6)AIRKarR198

..... the vehicle. for the reasons assigned above, the insurance company has to satisfy the award and thereby fulfill its obligation to the appellant herein who is the insured under the contract of indemnity.33. for the reasons stated above, that portion of the judgment of the tribunal, reserving liberty to the insurance company to recover from the appellant herein would have to ..... law on fiction. under the circumstances, the liability of the insurance company would have to be held to be co-extensive with the liability of the insurance company under the contract of indemnity viz-a-viz the transferee of the vehicle.27. in view of the pronouncements of the hon'ble supreme court under the new act with respect, i hold that ..... reported in : 2008 acj 1681 (united india insurance company limited v. m.n. ravikumar and ors.) the division bench of this court after re-iterating that the contract of insurance is a contract of indemnity and also the deeming effect under section 157 of the act where there is automatic transfer of policy along with the vehicle whether or not there is intimation ..... noted that section 157 is also in chapter xi of the act, which speaks about the insurance of motor vehicles against third party risks. further in the absence of contract of indemnity between the insurance company and the insured, the insurance company is not under an obligation to satisfy the award under which it is liable to pay compensation to third party .....

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Nov 18 2002 (HC)

V. Ramanujam Vs. Karnataka State Financial Corporation and ors.

Court : Karnataka

Reported in : III(2003)BC20; 2003(1)KarLJ585

..... .'section 4(1)(b).--nothing in section 3 shall affect any right or remedy against any person other than a person referred to in that section, in respect of a contract or indemnity or guarantee entered into in relation to an agreement referred to in that section or in respect of any interest referred to in clause (a)'.a closer reading of ..... guarantee.'section 127.--anything done, or any promise made, for the benefit of the principal debtor, may be a sufficient consideration to the surety for giving the guarantee'.5. a contract of guarantee is a single transaction to which there are three parties--creditor, principal debtor and guarantor. therefore, the clause 'where any person is a party to any agreement relating ..... . the argument no doubt looked attractive but, on a closer analysis of the provisions of sections 3 and 4 of the act and sections 126 and 127 of the indian contract act, the same has to be discarded.3. the karnataka public monies (recovery of dues) act, is an act which was enacted mainly for the purpose of providing for speedy ..... party to the agreement relating to loan is liable to pay the amount stated in the loan transaction.4. section 126 of the indian contract act defines a contract of guarantee as follows.-'section 126a contract of guarantee is a contract to perform the promise or discharge the liability of a third person in case of his default. the person who gives the guarantee .....

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Sep 04 1987 (HC)

M. Akkawa Vs. New India Assurance Co and ors.

Court : Karnataka

Reported in : [1988]63CompCas319(Kar)

..... insurance which stipulates to pay compensation for the death of the insured person himself cannot be said to be a contract of indemnity. 22. it the owner of the vehicle, who has the benefit of indemnity is himself not covered by the policy, his representative-unless he be an employee covered by the first proviso ..... undertake the liability to pay compensation in respect of the death of the insured person himself in an accident involving the vehicle insured. 21. basically, a contract of motor insurance seeks to indemnify the owner of the vehicle against liability arising out of claims of third parties and arising against the insured owner our ..... ) except where e the vehicle is a vehicle in which passengers are carried for hire or reward of by reason of or in pursuance of a contract of employment, to cover liability in respect of the death of or body injury to persons being carried in or upon or entering or mounting or ..... are third parties has its own limitation. even so, a representative or agent-as distinct form a servant-of the owner who is a party to the contract cannot be a third party. in pushpabai v. ranji ginning and pressing co. ltd., air 1977 ac 1735, the supreme court said (at page 1746): ..... clearly answerable foe the claim if only it is possible to hold the victim of the accident to be a third-party vis-a-vis the contract of insurance between the owner and the insurers. the tribunal has recorded a finding that the deceased was at bests gratuitous passenger in a goods vehicle .....

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Sep 16 1981 (HC)

Vellaya Gouder Vs. N. Ramanathan and ors.

Court : Karnataka

Reported in : [1985]57CompCas49(Kar); ILR1981KAR1602; 1982(1)KarLJ57

..... that the owner is not an aggrieved party. with respect we are unable to accede to that view. it is a well settled principle of law that insurance is an indemnity contract and unless the owner is made liable, there is no liability on the insurer to indemnify the owner. hence, it would not be correct to say that the owner cannot .....

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Apr 05 1977 (HC)

The Hukumchand Insurance Co. Ltd. Vs. the Bank of Baroda and ors.

Court : Karnataka

Reported in : AIR1977Kant204; ILR1977KAR980

..... of some act or promise on the part of the creditor, promises, to discharge the debtor's liability, if the debtor failed to do so. in a contract of indemnity, however, the promisor makes himself primarily liable and undertaken to discharge the liability in any event. the liability may arise out of tort or as well as ..... of default 'by a debtor can be insured against as effectively as the debt can be guaranteed.in any view of the matter, whether the contract in the instant case is viewed as a contract of indemnity or as one of guarantee and whether, correspondingly, the liability is to pay a new debt arising under the ..... to pay the original debt; but undertakes to pay new debt which arises out of the contract of indemnity, and this debt may differ from the original debt both in amount and as regards other incidents, the fart that the contract is framed in the form of a policy is some and only a prima facie evidence ..... the appellant would arise only when it is shown that the debt was irrecoverable from the first defendant. exhibit p-6 is styled 'an indemnity policy'. a contract under which an insurer undertakes to make good losses -caused by the default of a debtor bears close resemblance to a ..... contract to indemnify or to pay the original debt, the claim, in our opinion, cannot be said to be premature. the liability on the part .....

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Jul 11 1986 (HC)

Kudremukh Iron Ore Co. Ltd. Vs. Koruls Rubber Co. Pvt. Ltd. and anr.

Court : Karnataka

Reported in : AIR1987Kant139; ILR1986KAR3313

..... and the purchaser in order to see that the seller gets his money without much difficulty. 17. section 124 of the contract act defines the contract of indemnity as: -'a contract by which one party promises to save the other from loss caused to him by the conduct of the promissory himself, ..... therefore a reference to the said various paragraphs would clearly bring out that there is a. marked distinction between letters of credit, contracts of guarantee and contracts of indemnity. the said supreme court case involved only a letter of credit. therefore the reliance placed by the learned counsel shri sundara swamy on ..... dependent on a third person's default. a promise to be primarily and independently liable is not a guarantee, though it may be an indemnity. in a contract of guarantee there have to be three parties; (1) a principal debtor whose liability may be actual or prospective, (2) a creditor ..... or by the conduct of any other person, is called a contract of indemnity- 'section 125 of the contract act reads as: - the promise in a contract of indemnity, acting within the scope of his authority, is entitled to) recover from the promissory- (1) all ..... said rulings referred to by both the advocates, it is necessary to find out the meaning of the words(i) letter of credit;(ii) contract of guarantee; and(iii) contract of indemnity.16. the learned author h.p. sheldon his practice and law of- banking, 8th edition (revised) has stated as: i 'letter .....

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Mar 28 2016 (HC)

The Manager, National Insurance Co.Ltd., Vs. Rasheed Khan and Others

Court : Karnataka

..... of jurisdiction of the civil court respectively, to submit that insurer/appellant is disentitled to invoke the civil court s jurisdiction over breach of terms and conditions of the indemnity under the contract act, as against the owner/insured. 10. having heard the learned counsel for the appellant, perused the pleadings, examined the judgment and award and the evidence, both oral and ..... civil court to entertain a suit as between insurer and insured in the matter of fraud, undue influence or collusion either while entering into the contract of indemnity or breach of terms of the said contract. 28. in rajesh singh s case as well as nicoletta rohtagi s case (supra), the apex court did not in express terms deny right of the ..... parties to the contract to institute a suit over breach of terms and conditions of the contract of indemnity before a competent civil court. 29. in rajendra singh s case, the apex court observed that it had no doubt that remedy to ..... 165 read with section 175 of the act denudes the jurisdiction of the civil court to entertain a claim for breach of terms of contract of indemnity on the basis of fraud as defined under section 17 of the contract act, 1872, is without merit. section 175 by itself and nothing more does not either expressly or impliedly bar the jurisdiction of the .....

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Dec 20 1990 (HC)

T. Raju Setty Vs. Bank of Baroda

Court : Karnataka

Reported in : AIR1992Kant108

..... debtor are in the nature of public policy because it is the policy of law and that the persons who enter into a contract of indemnity and guarantee should have certain rights and liabilities. as otherwise it is likely that the creditor being in a dominating position may exploit ..... sureties?point no. 19. chapter viii of the indian contract act, 1872 (hereinafter referred to as the 'act') deals with indemnity and guarantee. section 124 defines the expression 'contract of indemnity'; section 125 defines 'rights of indemnity holder when sued; section 126 defines the expressions 'contract of guarantee', 'surety', 'principal debtor' and 'debtor'. ..... the hapless position of a person seeking credit and may compel the persons seeking credit and the persons furnishing guarantee and indemnity to agree to the terms which in the very nature of things wilt be inquititious, unjust and unconscionable. it is submitted that it ..... law or is not enforceable.'11. we are of the view that as the provisions contained in chapter v11i of the act relate to indemnity and guarantee, they deal with one subject and they are to be read together. the liability of the surety as stated in general terms ..... decision.27. in maharashtra state electricity board, bombay v. official liquidator, high court, ernakulam : [1983]1scr561 secs. 128 and 134 of the contract act were considered. on the basis of the provisions contained in those sections it was held that the surety bank's liability is co-extensive .....

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Nov 06 1992 (HC)

Corporation Bank Vs. Mohandas Baliga

Court : Karnataka

Reported in : ILR1993KAR201; 1993(1)KarLJ308

..... and liabilities of the sureties and the principal debtor are in-the nature of public policy because it is the policy of law that the persons who enter into a contract of indemnity and guarantee should have certain rights and liabilities. as otherwise it is likely that the creditor being in a dominating position may exploit the hopeless position of a person ..... judgment, therefore, it is necessary to reproduce the same:'9. chapter viii of the indian contract act, 1872, (hereinafter referred to as the 'act') deals with indemnity and guarantee. section 124 defines the expression 'contract of indemnity'; section 125 defines 'right of indemnity holder when sued'; section 126 defines the expressions 'contract of guarantee','principal debtor' and 'debtor'; section 127 provides regarding the consideration for guarantee ..... seeking credit and may compel the persons seeking credit and the persons furnishing guarantee and indemnity to agree to the terms which in the very nature of things will be iniquitous, unjust and unconscionable. it is submitted that it is this danger which is intended to ..... said clause is neither bad in law or is not enforceable.'11. we are of the view that as the provisions contained in chapter viii of the act relate to indemnity and guarantee, they deal with one subject and they are to be read together. the liability of the surety as stated in general terms in section 128 of the act .....

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