Court : Kolkata
Reported in : (1880)ILR5Cal811
..... indemnify is to be implied. then by article 83 of the first division of the second schedule of the limitation act (xv of 1877), limitation in the case of a contract of indemnity runs from the date when the plaintiff is actually damnified. in the present case, therefore, limitation began to run when the administrator-general recovered against the plaintiff, and the ..... present is clearly pointed out by quain, j., in baxendale v. london, chatham, and dover railway co. (l.r., 10 ex., 35): 'if this were a contract of indemnity, where although there may be two contracts in form there is only one in substance, our decision might be in favour of the plaintiff. in such a case a surety, who is called upon ..... well be justified in defending an action at the principal's expense.'in the case of contracts of indemnity, the liability of the party indemnified to a third person is not only contemplated at the time of the indemnity, but is the very moving cause of that contract; and in cases of such a nature there is a series of authorities to the effect ..... proceedings are taken to enforce the contract against such third persons, and it turns out that the guarantor had no such authority, the costs are recoverable against him: collen v. wright (7 e. & b., 301; s.c. on appeal, section e. & b., 647), godwin v. francis (l.r., 5 c.p., 295). in cases of indemnity it has been so held in .....Tag this Judgment!
Court : Kolkata
Reported in : 16Ind.Cas.73
..... in coming to this conclusion, i do not overlook the contention that the statute of limitation constitutes a bar to this suit. but as the contract is one of indemnity, the article that applies is article 83, possibly extended by article 116. but even if it be taken that article 83 alone is the ..... we have in the express agreement of the parties themselves a fair measure of the extent of this indemnity for which they contracted. that amount is manifestly in excess of the damages awarded to the plaintiff by the court of first instance where a decree for rs. ..... an appeal; therefore, that amount cannot be increased by us, and it is only for us in these circumstances to hold, as we do, that the indemnity extended at least to the amount of rs. 425: and we must, accordingly, reverse the decree of the district judge and restore that of the munsif ..... is, i think, by these considerations that we should be guided in this case. there may be some difficulty in determining the precise extent of the indemnity to which the vendor was entitled from the purchaser of the equity of redemption, having regard to the fact that only a part was purchased. but ..... value of that equity of redemption, he contracts to protect his vendor from the obligation of the mortgage. the buyer's contract with the mortgagor is that the debt shall not fall upon him. it is a contract of indemnity and the buyer would be bound without any specific contract to indemnify the seller. tweedale v. tweedale .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1929Cal208,118Ind.Cas.882
..... lord justice was there expounding the doctrine of the common law, which he recognized was different to the rule in equity. moreover in that case the right of indemnity did not arise from contract but from a trust and the learned judge goes on to say at p. 714:it would not be right for a trustee to obtain money from this ..... p. 486 says:moreover, i think this decision follows logically on the manner in which courts of equity had given effect to contracts of indemnity. in many cases they had ordered the indemnifier to pay the debt against which the indemnity had been given though nothing had been paid by the person indemnified. cruse v. paine  4 ch. 441 is an example ..... law would not in any way have recognized. equity has always taken a wider and more liberal view of these rights of indemnity than the old common law courts did. it is settled at common law that, given a contract of indemnity, no action could be maintained until actual loss had been incurred. the common law view was first pay and then come ..... the learned judge. i do not think that the contention of the respondents is sound. how the person who receives payment of a sum of money under a contract of insurance or re-insurance, or, i will add, of indemnity, deals with that sum is, in general and apart from special considerations, no concern of the party who, in fulfilment of his .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1986Cal356
..... court judgment in the case of united commercial bank v. bank of india (supra). in our opinion whether it is a bank guarantee or a letter of credit or contract of indemnity, the enforceability of such an instrument against the bank depends on the terms and conditions of the same. the question before the court in such a case is whether the ..... are merely instruments to reimburse. it is not even a contract of indemnity. he has submitted that irrespective of the expressions 'guarantee' or 'indemnity' used from time to time on behalf of the appellant-petitioner, it is the substance and not the form which is to be looked into ..... sometimes as bank guarantees, sometimes as indemnities and sometimes as both. mr. mitra has submitted that these are not bank guarantees at all. these ..... which provides as follows :'24. contract of idemnity defined -- a contract by which one party promises to save the other from loss caused to him by theconduct of the promisor himself, or by the conduct of any other person, is called a 'contract of indemnity'.'in the plaint and various petitions and affidavits filed on behalf of his clients, these instruments have been described .....Tag this Judgment!
Court : Kolkata
Reported in : (2009)1CALLT90(HC),147CompCas231(Cal)
..... first defendant promised to pay the plaintiff 'any amount which the ubi may call upon' the plaintiff to pay 'without any reference or recourse.'25. the contract of indemnity, in such circumstances, obliged the first defendant to take over the plaintiff's liability to ubi and, probably, apply to have himself impleaded in the ..... from the moment that the time to pay passed. in the second place, it is open to the vendor to bring a suit on the contract of indemnity if upon failure to discharge the encumbrance the vendor suffered a loss. the supreme court considered the matter to be covered by the second scenario and ..... then contended by mr. b.c. misra that even if there was a contract of indemnity the cause of action for the plaintiff arose on february 4, 1937 when the final mortgage decree was passed and not on february 25, 1943 when ..... the actual amount of his loss.' this is the solitary sentence from the judgment that the first defendant places.19. the supreme court considered a contract of indemnity in the light of a point of limitation in the shanti swarup case. paragraph 5 of the report needs to be noticed:(5) it was ..... v. naraini) and 37 mad. 270 (nallappa reddi v. vridhachala reddi), the equitable principle laid down by the english courts has been accepted and applied to contracts of indemnity in this country. in this connection i would also refer to the case in 56 cal. 262 (osman jamal and sons ltd. v. gopal purshottam). i .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1980Cal292
..... stock it is of vital interest.'48. in the case before the house of lords the circumstances were such as to raise by implication a contract for indemnity. the considerations for their lordships were that the bank requested the corporation to exercise its statutory duty for the benefit of the bank by ..... determine. all i wish to be considered as deciding is that in the present case there was reasonable evidence for the jury of an implied contract of indemnity.'brett, j, also held that there was ample evidence to support the evidence of the jury. the defendant having ordered the goods to be ..... was taken on that basis and a suit was filed on the strength of the said indemnity bond. it was held that the government was entitled to recover the amount on the basis of the contract and the same was not opposed to public policy. it was also held therein that the ..... 21 of the indian securities act, 1920, the prescribed officer while renewing the government promissory note at the request of the holder gave an express indemnity against the claims of all persons claiming under the original security but actually did not do so. subsequently, it transpired that, unknown to the holder ..... contract. that principle is certainly not applicable to the facts of our case.57. in that case there was a demand for the opening of a telegraphic office at a certain place. but the government was not willing to open it unless the local merchants guaranteed the loss. on that basis some local merchants executed an indemnity .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1975Cal145
..... of the promisor himself, or by the conduct of any other person, is called a 'contract of indemnity'.'the section in its terms is dependent upon the obligation which arises on the loss caused to the party to be indemnified. the loss may. ..... the state bank of india to the bank of alexandria. the scope and effect of an indemnity is dealt with under the provisions of section 124 of the indian contract act which provides as follows:--'a contract by which one party promises to save the other from loss causedto him by the conduct ..... buyer defendants nos. 1 and 2 were wrongfully purporting to cancel the contract of the said goods. there was a telegram received by the state bank of india from the bank of alexandria on the 28th november, 1967 ..... to be supplied and inspected by surveyor messrs. norman, stewart & co. was not according to specification. therefore, the foreign buyer purported to cancel the contract. the said repudiation, however, is denied and disputed by the plaintiff. the plaintiff alleges that the jute bags were manufactured according to specification and the foreign ..... as per terms of the contract the guarantee should be valid upto the 31st may, 1968. the said instructions are contained in the letter dated the 25th august, 1967. which appears at page 26 of the paper book. on the 29th august, 1967, a letter of indemnity and/of counter guarantee was .....Tag this Judgment!
Court : Kolkata
Reported in : (1911)ILR38Cal28
..... then he contended that at any rate it could not be applied to clause 10 of this agreement, for this he maintained was an independent contract of indemnity which therefore should be construed strictly against the manufacturing company as the insurers. his argument was this 'i am not seeking to escape from my ..... it could be reasonably assumed that the manufacturing company had power to enter into such a far reaching contract of indemnity or whether the clause comes within the mischief of section 23 of the contract act.19. it thus only remains for me to deal with the contention based on the contents of ..... 'the general law (and it is obvibus justice) is that where there is a contract of indemnity (it matters not whether it is a marine policy or a policy against fire on s land or any other contract of indemnity), and a loss happens, anything which reduces or diminishes that loss reduces or diminishes the ..... into the hands of the person to whom he has paid it, it becomes an equity that the person who has already paid the full indemnity is entitled, to the recouped by having that amount back.'18. if then the manufacturing company had recovered damages from the carrying company before ..... , is not a bilk of lading, but a contract between common carriers and intending shippers, and clause 10 is not an independent contract of indemnity, but an integral part of this contract as to carriage and must be so construed. indeed, if it were an independent contract in the, sense for which mr. mitter contends .....Tag this Judgment!
Court : Kolkata
Reported in : (1904)ILR31Cal798
..... of the license as if it were transferred to him, he agreeing to hold the plaintiff indemnified from all claims and demands made in respect of the business. the contract of indemnity is therefore a vital and necessary part of the arrangement and essential for the purpose of allowing the defendant to use the plaintiff's name. section 11 says no person ..... defendant is permitted to use the plaintiff's name and license and carry on business in every way uncontrolled by the plaintiff as if he were the licensee himself. the contract of indemnity is the means used to gain this end. the license is not to be transferred, and so far the plaintiff's responsibility in the eye of the law continues ..... . the plaintiff on the other and relies on the fact that the suit is based on an indemnity which, it is contended, is separable from the rest of the contract, and it is said that, even if the monthly instalments are not recoverable by reason of the contract being illegal, there is nothing in the excise law to prevent his recovering under the ..... indemnity the sum due thereunder. it seems to me that it is impossible to differentiate the claim in respect .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1990Cal421
..... commercial bank v. bank of india (supra). in our opinion whether it is a bank guarantee or a letter of credit or contract of indemnity, the enforceability of such an instrument against the bank depends on the terms and conditions of the same. the question before the court in such ..... out some of the salient features of the same. bank guarantees and letters of credit practically stand on the same footing. in our opinion an indemnity given by a bank also stands on the same footing. this is also made clear in the supreme court judgment in the case of united ..... the trial court in an application for a interlocutory order filed by the plaintiff appellant. this also involved the question of enforcement of letters of indemnity/guarantee. the defendant no. 4 in that case was allahabad bank which executed 4 documents in favour of the defendant no. 3 which was ..... transaction of sale of goods with an irrevocable tetter of credit. but in modern commercial transactions, various devices are used to ensure performance by the contracting parties. the traditional letter of credit has taken a new meaning. in business circles, stand by letters of credit are also used. performance bond ..... the bank, however, was not allowed to determine whether the seller had actually shipped the goods or whether the goods conformed to the requirements of the contract. any dispute between the buyer and the seller must be settled between themselves. the courts, however, carved out an exception to this rule of .....Tag this Judgment!