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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Sorted by: old Year: 1963 Page 1 of about 375 results (0.039 seconds)

Jan 03 1963 (HC)

A.V. Varadarajulu Naidu (Decd.) and ors. Vs. K.V. Thavasi Nadar

Court : Chennai

Decided on : Jan-03-1963

Reported in : AIR1963Mad413

..... surety as such, which has been held to be different from that of an in-demnifier. section 124 of the indian contract act defines a 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 promiser ..... circumstances like fraudulent representation, or in the absence of other features from which a court can infer a contract to be one of indemnity, as defined under section 124 of the indian contract act the liability of the surety is only ancillary and rests only on a valid obligation on the ..... veiu padayachi's case, : air1950mad444 (fb) was sought before a full bench of this court. the learned advocate general apparently submitted that a contract could not be held to be necessarily illegal because it might be carried out unlawfully, and that so long as the parties can carry out ..... himself or by the conduct of any other person. it is, therefore, in the nature of compensation for a loss. but, section 126 defines surety as a person who gives a contract ..... of guarantee which is a contract .....

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May 02 1963 (HC)

Barjor Hoshangji Vakil and ors. Vs. the Mettur Chemical and Industrial ...

Court : Chennai

Decided on : May-02-1963

Reported in : (1964)1MLJ325

..... by the company would be part of his dividend which under our law is not the case. i cannot also accept the contention that a tax-free dividend implies a contract of indemnity by which the shareholder is assured that he would retain the dividend without any incidence of taxation. thus the claim of the appellants to a certificate that the-income ..... . gopalaswamy ayyangar, who appeared for the appellants, put their case in a somewhat different form. according to learned counsel, the articles of association should be read as amounting to a contract by the company with the preference share-holder that the latter would be entitled to get six percent, return on the share with-out being obliged to pay tax thereon ..... . in other words, the articles of association amounted to indemnity by the company to the share holder that he would not be liable to pay any tax thereon. i am, however, unable to regard the contract contained in the articles of association that the preference shareholder will be given six percent. income-tax free .....

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May 02 1963 (HC)

Barjor Hoshangji Vakil and Others Vs. Mettur Chemical and Industrial C ...

Court : Chennai

Decided on : May-02-1963

Reported in : [1963]50ITR128(Mad)

..... by the company would be part of his dividend which under our law is not the case. i cannot also accept the contention that a tax-free dividend implies a contract of indemnity by which the shareholder is assured that he would retain the dividend without any incidence of taxation. thus the claim of the appellants to a certificate that income-tax ..... , the articles of association amounted to indemnifying the company to the shareholder that he would not be liable to pay any tax thereon. i am, however, unable to regard the contract contained in the articles of association that the preference shareholder will be given six per cent. income-tax-free dividend as amounting to a guarantee that such dividend would be ..... . gopalaswami aiyangar, who appeared for the appellants, put their case in a somewhat different form. according to learned counsel, the articles of association should be read as amounting to a contract by the company with the preference shareholder that the latter would be entitled to get six per cent. return on the share without being obliged to pay tax thereon. in .....

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May 02 1963 (HC)

Barjor Hoshangji Vakil and ors. Vs. Mettur Chemical and Industrial Cor ...

Court : Chennai

Decided on : May-02-1963

Reported in : AIR1964Mad83; [1963]33CompCas932(Mad)

..... by the company would be part of his dividend which under our law is not the case. i cannot also accept the contention that a tax-free dividend implies a contract of indemnity by which the shareholder is assured that he would retain the dividend without any incidence of taxation. thus the claim of the appellants to a certificate that income-tax ..... articles of association amounted to indemnify the company to the share-holder that he would not be liable to pay any tax thereon. i am, however, unable to regard the contract contained in the articles of association that the preference share-holder will be given six per cent income-tax-free dividend as amounting to a guarantee that such dividend would ..... . gopalaswami aiyangar, who appeared for the appellants, put their case in a somewhat different form. according to learned counsel, the articles of association should be read as amounting to a contract by the company with the preference shareholder that the latter would be entitled to get six per cent return on the share without being obliged to pay tax thereon. in .....

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May 03 1963 (HC)

The Prithvi Insurance Co., Limited Vs. the Commissioner of Income-tax

Court : Chennai

Decided on : May-03-1963

Reported in : (1964)1MLJ34

..... position that there was an essential difference in life insurance business and general insurance business. they thought that while general insurance business, is a contract of indemnity, a life insurance contract is an entirely different type of contract, that the law required separate accounts to be kept and a separate fund to be maintained for the life insurance business. the learned judges ..... parts of the business were different, while one, that is, the life business, involved commitments of the company spread over a long period, the general insurance, covered only contracts of indemnity for short periods not exceeding a year at a time. again, relying upon the unreported decision of the bombay high court, the tribunal held that the two types of ..... economically. the nature of the risks underwritten in each is too vitally different. life risks combined endowment principles and investments over long periods of contract which are totally absent in general insurance, which covers contracts of indemnity from year to year only. also the types of men required to run these two require educational and other qualifications and training different from ..... of other classes of insurance, it is true that a risk is undertaken by the insurer and indemnity offered against that risk. but, unless the risk occurs, the insurer is under no liability to pay any part of the amount in respect of that contract of insurance. clearly, therefore, in the case of life insurance, a certain sum becomes payable .....

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May 03 1963 (HC)

Prithvi Insurance Co. Ltd. Vs. Commissioner of Income-tax, Madras.

Court : Chennai

Decided on : May-03-1963

Reported in : [1964]52ITR238(Mad)

..... the position that there was an essential difference in life insurance business and general insurance business. they thought that while general insurance business is a contract of indemnity, a life insurance contract is an entirely different type of contract, that the law required separate accounts to be kept and a separate fund to be maintained for the life insurance business. the learned judges, ..... parts of the business were different, while one, that is, the life business, involved commitments of the company spread over a long period, the general insurance covered only contracts of indemnity for short periods not exceeding a year at a time. again relying upon the unreported decision of the bombay high court, the tribunal held that the two types of ..... economically. the nature of the risks underwritten in each is too vitally different. life risks combined endowment principles and investment over long periods of contract which are totally absent in general insurance which covers contracts of indemnity from year to year only. also the types of men required to run these two require educational and other qualifications and training different from ..... of other classes of insurance, it is true that a risk is undertaken by the insurer and indemnity offered against that risk. but, unless the risk occurs, the insurer is under no liability to pay any part of the amount in respect of that contract of insurance. clearly, therefore, in the case of life insurance, a certain sum becomes payable .....

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May 27 1963 (FN)

Reed Vs. the Yaka

Court : US Supreme Court

Decided on : May-27-1963

..... the real reason for its decision is that a contrary result would make little economic sense after the decision in ryan, supra, holding that, on the basis of an implied contract of indemnity, a shipowner is entitled to reimbursement from an independent stevedore of a judgment obtained against the shipowner by the stevedore's employee. admittedly, the liability imposed in ryan is ..... recover against the ship. but since the defective pallet was furnished by pan-atlantic, the trial judge went on to hold that it must make waterman whole because of an indemnity clause in the bareboat charter agreement. 183 f.supp. 69. the court of appeals for the third circuit reversed the judgment, holding that neither waterman nor pan-atlantic could be ..... forcing them to shoulder their losses alone, and the broad range of the "humanitarian policy" of the doctrine of seaworthiness, which we held not to depend upon any kind of contract. 328 u.s. at 328 u. s. 93 -95. we further held that the longshoremen's and harbor workers' act was not intended to take away from longshoremen the traditional ..... question of whether a shipowner who was forced to pay damages to a longshoreman injured by the unsafe storage of cargo could recover indemnity from the stevedoring company for whom the longshoreman worked. even in the absence of an indemnity provision, the court held that the stevedoring company was liable over to the shipowner because it had promised to store the cargo .....

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Jun 10 1963 (FN)

United States Vs. Pioneer American Ins. Co.

Court : US Supreme Court

Decided on : Jun-10-1963

..... v. vorreiter, 355 u. s. 15 . thus, the fact that, under arkansas law, the claim for attorney's fees becomes enforceable upon default as a contract of indemnity does not foreclose inquiry by this court into the degree the claim is choate at that time. [ footnote 8 ] there is nothing in security mortgage co. ..... the claim for the attorney's fee, arising out of the obligations assumed by the taxpayer in 1958, became enforceable under arkansas law as a contract of indemnity at the time of default in october, 1960, before the filing of the first federal tax liens. furthermore, it is evidence that the suit ..... supreme court of arkansas subordinating the federal tax lien (26 u.s.c. 6321) to a lien for attorney's fees included in an antecedent mortgage contract. 235 ark. 267, 357 s.w.2d 653. because of conflict between the arkansas decision and united states v. bond, 279 f.2d 837 ..... surety made advances to complete another contract of the taxpayer, as the surety was obligated to do under its bond issued on that contract, and the taxpayer thereby became indebted to the surety. the majority held the surety's interest " ..... ball once again provides a parallel. sums due the contractor taxpayer under a particular construction contract were assigned to the surety as security for any future indebtedness of the contractor to the surety arising under that contract or any other. after the filing of the federal tax lien against the contractor, the .....

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Jun 13 1963 (HC)

The Bank of New India Ltd. Vs. G. Govinda Prabhu

Court : Kerala

Decided on : Jun-13-1963

Reported in : AIR1964Ker267

..... month and would himself pay, the reasonable view is, that the cause of action against him arose upon non-payment within in month. but it was urged, that as a contract of indemnity, a different result would follow. the rules at common law and in equity are stated thus in 16 halsbury's laws of england, 3rd edition, paragraphs 982 and 983 ..... at the request of the debtor becomes entitled to recover from him whatever sums he has rightfully paid under the guarantee as is provided in section 145, whereas in the contract of indemnity, the indemnifier cannot on the performance of the obligation of the debtor in the absence of an assignment from the creditor, sue in his own name, the debtor, as ..... the two cases. in this sense ext. f may be held to be a contract of indemnity, with a special term by which defendants 2 and 3 rendered themselves personally liable to pay, in case the debts were not discharged within one month. the subordinate judge ..... to accept the argument of counsel, that ext. f is evidence of repudiation by the plaintiff of the principal debt itself and that therefore it cannot be regarded as a contract of indemnity. the plaintiff considered that the loans were irregular, not that they were not true or that they were unenforceable. the principal debtors were of course the first defendant in .....

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Jul 25 1963 (HC)

Union of India (Uoi) Vs. Alliance Assurance Co. Ltd. and anr.

Court : Kolkata

Decided on : Jul-25-1963

Reported in : AIR1964Cal31

..... the policy, has by way of subrogation an equitable right to all the claims of the assured against the carrier in respect of the shortage. the contract of insurance against loss is a contract of indemnity. on payment of the amount of the loss the insurer as indemnifier has an equitable right of subrogation to the claims of the assured against the carrier .....

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