Court : Punjab and Haryana
Reported in : 59CompCas808(P& H)
..... of any express stipulation to the contrary in the policy, the moment the insured parts with the car, the policy relating to it lapses. the insurance policy being a contract of personal indemnity, the insurers cannot be compelled to accept responsibility in respect of a third party who may be quite unknown to them.'12. finally, as regards the contention that in ..... even if the original policyholder continues to be shown as the registered owner of the vehicle concerned. the rationale behind this being that a policy of insurance is a contract of personal indemnity and the insurer cannot, therefore, be compelled to accept responsibility in respect of a third party, who may be quite unknown to him. mr.l.m, suri, counsel for ..... the high court of madhya pradesh in balwant singh v. jhanubai  acj 126, where it was held :' it is also well-settled law that a contract of insurance is nothing but a contract of indemnity. the policy is with reference to a specified vehicle owned by the policy holder and consequently the policy remains effective while the policyholder retains an interest in .....Tag this Judgment!
Court : Delhi
Reported in : 1981RLR138
..... principal debitor. the obligation of the surety depends substantially on the principal debtors's default ; under a contract of indemnity liability arises from loss caused to the promiseby the conduct of the promise himself or the conduct of another person : 'vide punjab national bank ltd. v. sri bikram cotton ..... wrong to treat such a bank guarantee, as a guarantee under section 126 of the contract act. which speaks of three persons with reference to the contract, it is rather in the nature of contract of indemnity, under section 124 of the contract act which requires two person, in a contract of guarantee the surety undertakes an obligation at the request express or implied of the ..... with the observation, 'that these bank guarantees create positive obligations and are irrevocable and that the obligation arising under the bank guarantees are independent of the obligations arising out of contract between the parties'. these observations have our full agreement. (14) mr. ray even made a half hearted attempt to distinguish the cases noted above by saying that in the ..... mills a.i.r. 1979 s. c. 1973 here the the bank guarantee is a contract between the bank and respondent. the reason why the bank guarantee may have been given no .....Tag this Judgment!
Court : Chennai
Reported in : AIR1928Mad588; 110Ind.Cas.484
..... decree against two persons jointly and severally, each is liable to contribute equally to discharge the decree, and there is always in such cases an implied contract of indemnity that, if one of them should be compelled to pay up more than his share, the other is bound to make good the same. this is ..... .5. as stated by lindley, l. j., in the case of edmunds v. wallingford 14 q.b.d. 811, the right to indemnity or contribution exist in such cases although there may be no express agreement to indemnify or contribute and although there may be in that sense no privity ..... paying off a right to levy contribution from his other partner without reference to the partnership accounts,' because on the legal principle that under the contract of the partnership each partner is only the agent of the other and the rights of the partners are not with reference to single items of ..... subject to any other rights or obligations. no doubt if it should be established that, having reference to the facts of the particular case, such implied contract as between co-judgment-debtors should be deemed to be displaced, then the legal principle may not be applicable. thus if, for instance, one of ..... then it follows that the implied obligation of the principal debtor under the contract of guarantee to keep the guarantor indemnified from any loss or damage would displace or be available to be set off against the other implication of indemnity. again, if the judgment-debtors inter se should be found to have .....Tag this Judgment!
Court : Delhi
Reported in : AIR1973Delhi115; 44CompCas316(Delhi); 1972RLR91
..... transfer of the motor vehicle. we are, thereforee, clearly of the view that in the absence of a stipulation to the contrary, an insurance policy which is a personal contract for indemnity, lapses upon the transfer of the motor vehicle and the benefit of the policy is not available to the transferee without an express agreement with the insurance company. (16) the ..... seller is liable, the insurance company is certainly liable, but if the motor cycle had been sold to the purchaser, the insurance company claims exoneration from liability, as the contract of indemnity contained in the insurance policy had lapsed. it is not denied that the purchaser did not give any information about the purchase of the vehicle to the motor registering authorities ..... vehicle, the liability of the seller arises and consequently liability of the insurance company to indemnify the seller against third party risk remains intact and subsisting in terms of the contract of insurance. (19) on the question of liability for the accident, there is not much dispute between the parties. it appears to us that the seller permitted the purchaser to ..... 96 presupposes the existence of a valid insurance policy. should such a policy be subsisting, the insurer cannot raise any other defense, but where the existence or subsistence of a contract of insurance is challenged or the insurer contends that the policy has lapsed or is not available to cover the liability of the purchaser of the vehicle, the restrictions contained .....Tag this Judgment!
Court : Madhya Pradesh
Reported in : 1994ACJ987
..... the driver of the vehicle and the owner is made liable on the principle of vicarious liability, the insurer is further made liable on the basis of a contract of indemnity. such contracts of indemnity contain certain stipulations and conditions.if the insurer is asked to indemnify the owner of the vehicle which is clearly on the plain reading against the terms and conditions ..... of contract of indemnity (insurance) the insurer will be put to hardship and great difficulty. the insurance company is holding the money of insured as a trustee of the same. this is a public .....Tag this Judgment!
Court : Madhya Pradesh
Reported in : 67ITR412(MP)
..... to that money. nor did that clause make the amount of rs. 1,56,471 received by seth narsinghdas as owner, a liability of his. in the case of a contract of indemnity, the indemnifier cannot be called on to make good his promise until the indemnified has incurred actual loss (see rangnath v. pachusao). it is not the case of the ..... government, clearly shows that the amount of rs. 1,56,471 was paid to him as owner of the acquired properties. clause 3 of that agreement is nothing but an indemnity clause providing that if it turns out that the assessee was not entitled to get any amount of compensation and if the government is required to pay any compensation to ..... any fault or defect in his title as represented by him without prejudice to any other remedies for the enforcement of any refund and indemnity, the government may recover any sum payable by way of refund and indemnity as arrears of land revenue.'the wealth-tax officer included by the amount of rs. 1,56,471 also in the net wealth of .....Tag this Judgment!
Court : Mumbai Aurangabad
..... was appropriately proved, particularly in absence of payment of additional premium? d) the insurance-company straight-away cannot be held responsible for payment of compensation as the contract of insurance is always a contract of indemnity and primarily the insured is required to be held responsible and not the insurance company? 8. so far as the appeal at the behest of the owner ..... the liability of the insurance company to pay the compensation straight way holding it to be responsible is concerned, it is required to be noted that the contract of insurance is always a contract of indemnity. the order of the labour court appears to have held responsible both, i.e. the vehicle owner and the insurance company responsible for payment of the amount .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1994Bom209; 1994(4)BomCR297; 1995(2)MhLj127
..... law in cases of insurance, where the insurance is a contract of indemnity only. upon paying the insured his loss, the underwriter or insurer is entitled to the benefit of ail remedies of the insured against persons ..... subrogation is a remedy rather than a right. some categories of subrogation are contractual in origin, but others are in no way based on contract and appear to defy classification except as an empirical remedy to prevent a particular kind of unjust enrichment.the doctrine of subrogation is applied at ..... policies.'the merine insurance act of 1963 which has codified the law relating to marine insurance defines 'marine insurance' in section 3as under:'a contract of marine insurance is an agreement whereby the insurer undertakes to indemnify the assured, in the manner and to the extent thereby agreed, against ..... has been defined in the insurance act of 1938 in clause (13a) of section 2 to mean:'marine insurance business' means the business of effecting contracts of insurance upon vessels of any description, including cargoes, freights and other interest which may be legally insured, in or in relation to such vessels, ..... liable for the loss, whether in contract or in tort, and is entitled to sue in the name of the insured, but he may not sue .....Tag this Judgment!
Court : Delhi
Reported in : 51CompCas316(Delhi); ILR1986Delhi317
..... treat such a bank guarantee, as a guarantee under section 126 of the contract act, which speaks of three persons with reference to the contract, it is rather in the nature of contract of indemnity, under section 124 of the contract act ; which requires two persons. , a contract of guarantee the surety undertakes an obligation at the request express or implied ..... 'that these bank guarantees create positive obligations.. ......... ..................and are irrevocable.. . ..... .and that the obligation arising under the bank guarantees are independent of the obligations arising out of contract between the parties........ ... '. these observations have our full agreement.(14) mr. ray even made a half hearted attempt to distinguish the cases noted above by saying that in the ..... guarantee has nothing to do with the alleged disputes between the appellant and the respondent which must be decided independently on the basis of the terms of that contract, without involving the contract of bank guarantee.(11) in the present case the guarantee given by the bank of india is in the following terms :- thestate trdg. corpn. of ..... of the principal debtor. the obligation of the surety depends substantially on the principal debtor's default ; under a contract of indemenity .....Tag this Judgment!
Court : Gujarat
Reported in : (2009)2GLR1348
..... driver and on that basis on the principle of vicarious liability, against the owners of such motor vehicles and the insurance companies which would step in on the basis of contract of indemnity and also on account of the statutory liability as laid down by the motor vehicles act. it is not as if that claims for compensation would lie even in ..... owner of the motor vehicle have first to be held to be responsible on the basis of tortious liability for the accident and then only insurer would come in via contract of indemnity or an account of its statutory obligation under section 95 read with section 96 of the act. consequently, even though the later part of section 110-b prior to .....Tag this Judgment!