Skip to content


Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: kolkata Page 3 of about 3,805 results (0.022 seconds)

May 15 1997 (HC)

Assambrook Exports Ltd. and anr. Vs. Export Credit Guarantee Corpn. of ...

Court : Kolkata

Reported in : AIR1998Cal1

..... that of the ordinary contractual warranty. otherwise there is no principle in insurance law which is at variance with the ordinary principles of the law of contract.'46. a contract of insurance is primarily a contract of indemnity but it may be framedotherwise, in terms whereof the insurer has certainobligation. 47. in lucas ltd. v. export credits guarantee depatment reported in 1974 (2 ..... price. the export credit guarantee department of the department of trade issues to exporters policies covering them them upto specified percenages against non-commercial risk. these policies are contracts of indemnity and if payment has been made under a policy by the department of trade in respect of a loss due to restrictions on the export of currency, and the ..... made by the first petitioner as regards the solemn promise made by it. a case of this nature would not fall within the general cases arising out of a pure contract qua contract.30. in life insurance corporation of india v. escorts ltd. reported in : 1986(8)ecc189 , the apex court was concerned with transfer of shares. the apex court ..... stated :--'the ministry of foreign economic relations of the republic of kazakhstan is pleased to inform that it is taking all the possible measures to perform its obligations under the contract concluded between 'rassik woodworth limited' and the state joint-stock company 'kazpishepromsyrio' for the delivery of tea to kazakstan. but some difficulties related to introduction .! the national currency, .....

Tag this Judgment!

Oct 16 2015 (HC)

Heavy Engineering Corporation Ltd. Vs. Standard Chartered Bank

Court : Kolkata

..... , in essence, exceptionally stringent contracts of indemnity. they are contractual undertakings, normally granted by banks, to pay, or repay, a specified sum in the event of any default in performance by the principal debtor of some ..... give notice of a claim if there is reasonable cause. the bank or other financial institution which grants a performance guarantee will, of course, demand a counter-guarantee or indemnity from the customer at whose request the guarantee is granted. as the customer will be liable to reimburse the bank on their payment under the guarantee, and as he ..... invocation of the guarantees was in terms thereof. the bank had no defence to the claim of the plaintiff and the same should be decreed. he relied on chitty on contracts, 25th edition on passage 4407 regarding performance guarantees as is reproduced below: performance guarantees. a number of cases have involved discussion of the nature of performance guarantees . which are ..... other contract with a third party, the creditor. an unusal feature of several modern cases has been that the bank s liability arises on mere demand by the creditor, notwithstanding .....

Tag this Judgment!

Apr 22 1958 (HC)

Chandmull JaIn and anr. Vs. General Assurance Society Ltd.

Court : Kolkata

Reported in : AIR1959Cal558,[1963]33CompCas370(Cal),63CWN367

..... allowance is to be made for the loss of prospective profit or other consequential loss. at p. 297 the learned authors observe 'the contract of fire insurance is a contract of indemnity and the assured is not adequately indemnified against the loss of this property unless, so far as money can do so, he is restored ..... entitled to recover the said amounts as soon as it is proved that the properties were lost. it is well known that a contract of insurance, specially, fire insurance, is a contract of indemnity and when loss occurs it is for the assured to prove the actual amount of his loss. the sums mentioned in the policy ..... ground that was available regardless. of reasons which they had previously given. as lord sumner pointed out in 1923 ac 48, if a party repudiated a contract giving no reasons at all, all reasons and all defences in the action partial or complete would be open to him.' at the time when the ..... part) of the condition referred to, with which we have to deal in the present case, is to enable the insurers to release themselves from their contract during its currency, leaving it in full vigour down to the time of notice. the words in which the power of determination is expressed, taken by ..... declare that the foregoing statements are to the best of our knowledge and belief true and we agree that these are to be the basis of the contract and will be considered as incorporated in the policy to be issued.'no signature of anybody appears at the place meant for the agent's signature. .....

Tag this Judgment!

Jul 20 1990 (HC)

Kalindi Woollen Mills (P) Ltd. and anr. Vs. Union of India (Uoi) and o ...

Court : Kolkata

Reported in : (1991)2CALLT75(HC),1991(33)ECC205,1991(53)ELT524(Cal)

..... prohibiting export of silver and even if the foreign buyer claims damages from the state trading corporation for breach of contract due to ban of export of silver the state trading: corporation would not be allowed to enforce the indemnity contract against the exporting policy in view of the equitable considerations. it was made clear that the constitutional questions should be ..... fifteen (amendment) order (1979) came into force which imposed a complete ban on export of silver including pre-ban contracts. the agreement between the-dealer and the state trading corporation contained an indemnity clause according to which in case the contract with foreign buyer could not be performed the dealer undertook to indemnify the state trading corporation. it was held that in ..... of such goods has to be registered prior to importation of the said goods with the textile commissioner of the government of india and it is only after the contracts are registered with the said textile commissioner and appropriate registration number is granted by the said authority, one can import the subject consignment accordingly. the allegation of the ..... the circumstances of the said case even though the contract to export silver related to pre-ban period, the court .....

Tag this Judgment!

Aug 14 1989 (HC)

Hindusthan Paper Corporation Limited Vs. Keneilhouse Angami

Court : Kolkata

Reported in : (1990)1CALLT200(HC),[1990]68CompCas361(Cal)

..... , a division bench of this court held as follows (at page 364) :'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 ..... on the basis of the said bank guarantee and not the right of the beneficiary as such against the other party to the contract under the said original contract. the original arbitration agreement may be very wide or general in terms, but that certainly does not include a dispute arising ..... by the beneficiary against the bank based on the bank guarantee cannot form the subject-matter of an adjudication under the arbitration clause between the parties to the original contract. in this context, reliance is placed on the following decisions :(i) union of india v. raman iron foundry, : [1974]3scr556 ; (ii) united ..... sd.) illegiblebranch manager,g. s. road, shillong.'dated at shillong.15th july, 1985.4. disputes and differences arose between the parties to the main contract as stated in the petition. it is stated that the plaintiff submitted its claim and there was some appointment of arbitrators. thereafter, this application was ..... ;'in the event of any question or disputes arising under or out of these conditions or in connection with this or relating to this contract except as to any matters the decision of which is specifically provided for in these conditions the matter in dispute shall be referred to .....

Tag this Judgment!

May 16 1952 (HC)

Bhuwalka Brothers Ltd. Vs. Dunichand Rateria

Court : Kolkata

Reported in : AIR1952Cal740,56CWN685

..... . 111,'this business, when carried on for the sake of profit, may, no doubt, in borne sense of the word, be called a trade. but contracts of indemnity made by insurers can scarcely be considered trading contracts, nor were insurers who made them held to be 'traders' under the english bankruptcy laws; they have been made subject to those laws by special description ..... jute mills association printed forms, and the defendant agreed to sell b-twill bags (jute goods), october-december 1949 delivery. on 28th september 1949, the plaintiff made three cross contracts (settlement contracts as they are usually called) with the defendant to sell back the goods to the defendant, delivery october-december 1949, and agreed to pay the difference at certain rates on ..... most important question in both appeals related to the distribution of legislative powers between the parliament of canada and the legislatures of the provinces, and the question was whether the contracts of insurance came within the words 'property and civil rights' or 'eegulation of trade and commerce'. on the part of the respondent it was argued that the ontario act in ..... , or has control over, a godown and other means and equipments necessary for the storage and supply of jute goods. section 3 gives power to the provincial government to prohibit contracts relating to jute goods futures. that section provides that the provincial government may, from time to time, if it so thinks fit, by notification in the official gazette, prohibit .....

Tag this Judgment!

Sep 15 1972 (HC)

T.i. and M. Sales Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1985]151ITR286(Cal)

..... bear half of any loss sustained by the other in connection with such business was held to constitute not a del credere agency, but a contract of indemnity. a del credere agency does not need to be in writing because being merely incidental to another transaction, it is not a promise to ..... any further, we may state that the assessee's contention is that with, the group a companies, it never had any privity of contract at all. contracts were entered into with the group a companies by the export company only pursuant to orders for which the assessee had canvassed in india. moreover ..... has not been traversed by the department) are (a) procuring of raw materials and manufacture of finished goods took place outside the taxable territories,(b) contracts for sale of goods were entered into outside the taxable territories,(c) price was received by the non-residents outside the taxable territories, and (d ..... on behalf of the nonresidents. some commercial activity was undoubtedly carried on by the assessees in the matter of procuring orders which resulted in contracts for sale by the non-residents of goods to merchants at amritsar. but on this account no business connection of the assessees with the ..... answer for the debt, default or miscarriage of another within section 4 of the statute of frauds.' in anson's law of contract, 21st edition, page 517, .....

Tag this Judgment!

Apr 05 2006 (HC)

Jaytee Exports Vs. Natvar Parekh Industries Limited and ors.

Court : Kolkata

Reported in : (2006)3CALLT346(HC)

..... may undertake a separate liability on a collateral or separate contract. a contract of indemnity is of course a specialized form of such a contract. consideration could if necessary be found by the entry into the main contract with the principal. examples of such contract are found in the case of breach of warranty of ..... supply corporation ltd. v. korea foreign transportation corporation and anr. reported in : air2002cal211 is not applicable as that case factually is based on a contract for carriage of goods entered into by the agent of the principal, and both the principal and agent sued. at the time of the trial ..... effective adjudication of the suit without claiming any relief. similarly, the agent can not enforce on behalf of the principal in relation to the contract entered into on behalf of the principal, who can enforce while doing it can join the agent as party plaintiff in the suit without ..... is guilty of breach of contractual obligation, tort and negligence. in particular, it has been pleaded in paragraph 15(b) that there was a contract or agreement between the plaintiff and defendant no. 1 as will be evidenced, inter alia, from the facts stated hereinbefore and/or from the conduct ..... a whole. it would appear therefrom that the plaintiff has several causes of action in the suit which includes inter alia, misrepresentation, breach of contract of carriage, breach of duty of care owed to the plaintiff, conversion of the goods and negligence. the plaintiff has also pleaded that the .....

Tag this Judgment!

Jul 30 2007 (HC)

Coal India Ltd. Vs. Bharat Explosives Ltd. and ors.

Court : Kolkata

Reported in : 2007(4)CHN738

..... the case of mula sahakari sakhar (supra) the court construed the 'document itself and came to the conclusion that the document in question constitutes a contract of indemnity and not an absolute or unconditional bank guarantee and on such finding the appeal was allowed.23. in the case of larsen & toubro ltd. ..... submitted that the appellant/petitioner, the cil fraudulently concealed the fact that the cil intended to change the terms and conditions of the said contract for the year 2006-07 and falsely induced the respondent to agree with the supply for the extended period commencing from 1st march,19. mr ..... caused charges and charges/expenses caused to or suffered by or that that may be caused. therefore, it can be stated to be a contract of indemnifying the claim of the appellant.mr. chatterjee further vehemently submitted that the action on the part of the appellant/petitioner is nothing ..... suffered by purchaser by reason of breach or breaches by the said suppliers or any of the terms and conditions contained in the said contract and unconditionally to pay the amount claimed by the purchaser on demand without demur to the extent aforesaid.he further submitted that it has ..... for such supply, respondent no. 1 and its subsidiaries issued notices inviting tender from its approved suppliers. the respondent/plaintiff was awarded a running contract for the period from march, 2004 to 25th february, 2005 by the appellant/petitioner for supply of bulk explosives to the subsidiaries of the respondent .....

Tag this Judgment!

Feb 23 1951 (HC)

In Re: the Pioneer Bank Ltd. and

Court : Kolkata

Reported in : AIR1951Cal519

..... , where lord ellenborough gave the reason thus :'he thought there was no foundation for the set-off claimed, as the sum claimed was unliquidated damages: that a guarantee was a contract of indemnity; it was to make good the default of another party, for whom the guarantee was given: that was not an absolute debt by the pltf. to the deft. but ..... & b sue c for the recovery of a debt due from c to a & b, c cannot set off a debt due to him from a alone. under section 45, contract act, the claim of a & b is joint & to allow c to plead set off in such a case will be to enable c to obtain payment from b who ..... for the default of a third party. in such a case the liability of the guarantor is neither joint nor several. his is a contract to perform the promise of another on his default: section 126, contract act. the question whether a debt due to the surety may be set off against his liability on the guarantee in an ordinary action must ..... . (n. s.) 526. a joint & several debt is a separate debt of both the debtor?.6. in india, in the absence of a contract to the contrary, a joint promise creates a joint & several obligation : section 43, contract act. if a sues b & c who are jointly & severally liable, b can set off a debt due to him separately from a. on .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //