Court : Chennai
Reported in : 41CompCas162(Mad); (1970)2MLJ483
..... a sensible way and not assume that the first defendant company intended to entrap its policyholders and destroy the value of the contract of indemnity by reason of the accidental contract of somebody else like the third defendant and it is our duty to construe the instrument in a rational and reasonable manner ..... these great companies intended to entrap their policy-holders and to destroy the value of the contract of indemnity by reason of the accidental contract of somebody-else, which had no connection with the subject-matter of the contract, or with the price paid for the insurance. the learned judge had to consider the ..... against the full insurable value, for any sum received by him under any other policy ; (d) where the assured receives any sum in excess of the indemnity allowed by this act, he is deemed to hold such sum in trust for the insurers, according to their right of contribution among themselves. ' 18. ..... claim payment from the insurers in such order as he may think fit, provided that he is not entitled to receive any sum in excess of the indemnity allowed by this act ; (b) where the policy under which the assured claims is a valued policy, the assured must give credit as against ..... more policies are effected by or on behalf of the assured on the same adventure and interest or any part thereof, and the sums insured exceed the indemnity allowed by this act, the assured is said to be over-insured by double insurance. (2) where the assured is over-insured by double insurance- .....Tag this Judgment!
Court : Himachal Pradesh
Reported in : AIR2008HP27,2007(3)ShimLC10
..... section 29 and on their taking possession they became deemed owners. the mortgage may have come to an end, but the contract of indemnity, which was an independent contract, did not. the right to claim for the balance arose, under the contract of indemnity, only when the sale proceeds were found to be insufficient.10. in the instant case, it is an admitted position that ..... the similar situation and it was held that the aforesaid view was entirely erroneous. it was further held that:.it is settled law that a contract of indemnity and/or guarantee is an independent and separate contract from the main contract. thus the question which they required to address themselves, which unfortunately they did not, was when does the right to sue on the ..... the balance could have been filed. merely because the corporation acted under section 29 of the financial corporations act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the main ..... indemnity arose. in our view, there can be only one answer to this question. the right to sue on the contract of indemnity arose only after the assets were sold off. it is at that stage only that a suit for recovery of .....Tag this Judgment!
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 .....Tag this Judgment!
Court : Madhya Pradesh
Reported in : (2010)ILLJ257MP; 2009(4)MPHT425
..... himself, or by the conduct of any other person, is called a 'contract of indemnity'.125. rights of indemnity-holder when sued.- the promisee in a contract of indemnity, acting within the scope of his authority, is entitled to recover from the promisor:(1) all damages which he may ..... contrary to the orders of the promisor, and was one which it would have been prudent for the promisee to make in the absence of any contract of indemnity, or if the promisor authorized him to compromise the suit.9. perusal of the aforesaid goes to show that the liability of the indemnifier to ..... he did not contravene the orders of the promisor, and acted as it would have been prudent for him to act in the absence of any contract of indemnity, or if the promisor authorized him to bring or defend the suit;(3) all sums which he may have paid under the terms of any ..... on account of the accident resulting from the use of his motor vehicle. sections 124 and 125 of the indian contract act, 1872 may be reproduced hereinbelow for convenience:124. 'contract of indemnity' defined.- a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor ..... and ors. v. narendra kaur and ors. 2009 (2) jlj 161 (sc), the apex court has further clearly observed:a contract of insurance as is well known is a contract of indemnity. in a case of accident, the primary liability under law for payment of compensation is that of the driver. the owner of .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1970SC1973; 40CompCas927(SC); (1970)1SCC60; 2SCR462
..... called the 'creditor'. a guarantee may be either oral or written.10. a promise to be primarily and independently liable for another person's conduct may amount to a contract of indemnity. a contract of guarantee requires concurrence of three persons- the principal debtor, the surety and the creditor-the surety undertaking an obligation at the request express or implied of the principal ..... agreement between the bank and ranjit singh.9. section 124 of the indian contract act defines a 'contract of indemnity'. a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other ..... worked out under the scheme.8. in reaching its conclusion that the bond executed, by ranjit singh in favour of the bank was of the nature of a contract of indemnity and not a contract of guarantee, the high court was impressed by the circumstance that the company was not a party to the bond, and that the bond was only a bilateral ..... debtor. the obligation of the surety depends substantially on the principal debtor's default; under a contract of indemnity liability arises from loss caused to the promisee by the conduct of the promisor himself or by the conduct of another person.11. in the present case the company did .....Tag this Judgment!
Court : Chennai
Reported in : AIR1936Mad528
..... test which is clearly deducible from the cases is to find out whether the covenant entered into by the vendee was a pure contract of indemnity. if it is a contract of indemnity pure and simple, the vendor will not be entitled to claim any money as the balance of the purchase money still remaining with ..... against certain claims, and not to have certain sums of money belonging to him paid to another.9. therefore in this case it is not a contract of indemnity pure and simple and vedathammal and her representatives-are entitled to demand the money in the events which have happened. it is contended by mr. bhashyam ..... damages for non-fulfilment of the contract of indemnity. the following observations in raghunatha chariar v. sadagopa chariar(1913) 36 mad 348, with reference to the case in izzabtun-nisa begam v. kunwar pertab ..... on rs. 850 retained for being received after the complete disposal of each of the court proceedings as aforesaid.8. if it is a pure contract of indemnity, no question of the return of the money will ever be contemplated, and the only right which the vendor will have is a right to ..... the vendee and as being payable to him. but if it is not a contract of pure indemnity, he may have to pay the purchase money in accordance with the directions of the vendor, and the vendor would be entitled to receive the .....Tag this Judgment!
Court : Chennai
Reported in : (1914)ILR37Mad270
..... the third party, as in this case, or if the indemnifier had notice given to him of the suit against the party entitled to the indemnity, the judgment would be conclusive against the indemnifier even as an adjudication by court.3. whether the technical doctrine of res judicata is applicable or not ..... both the english and american courts that, where there is a contract to indemnify, if a decree has been passed against the person entitled to indemnity, the correctness of that decree cannot be impeached by the person bound to indemnify. the contract of indemnity might no doubt strictly be said to require that it should ..... rightly, if we may say so, that the contract is substantially broken when the court has found in a suit honestly defended by the party entitled to ..... be proved that the indemnifier acted in violation of his duty, as well as that his act caused loss to the party entitled to indemnity. but the courts have held, and we think ..... indemnity that there has been a violation of duty by the indemnifier which has entitled a third party to the damages for which the indemnity has been given. it has .....Tag this Judgment!
Court : Chennai
Reported in : AIR1943Mad360; (1943)1MLJ131
..... and we are only making a provision in anticipation for any loss that may occur as a result of the defendants' default and breach of the contract of indemnity. further, we have to take into account the fact that the plaintiffs who are liable under the arrangement to pay the defendants certain amounts did not ..... are, what is the form of the decree to be made in the present case and what is the proper order as regards costs. under the contract of indemnity ex. p-3 the defendants undertook to discharge their liability within three months and to indemnify the plaintiffs against any claims or demands whatsoever for or ..... of affairs that the present suit came to be filed on 12th may, 1941, calling upon the defendants to make good their liability and the contract of indemnity by bringing their share of the amount due under the mortgage and thus save the plaintiffs from the harm of their properties being brought to sale by ..... it must be paid direct over to the creditor. if the creditor is not a party, i believe that it has been decided that the party seeking indemnity may be entitled to have the money paid over to him.the case of wolmirshausen v. gullick (1893) 2 ch. 514 was between two co-sureties ..... the allotment of properties and distributing the liabilities as per the agreement, and the other is ex.p-3 which is a deed of release and indemnity as between the several heirs inter se undertaking to pay and discharge the several liabilities imposed upon each within three months from the date of the .....Tag this Judgment!
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!