Court : Mumbai
Decided on : Sep-20-1939
Reported in : AIR1940Bom161; (1940)42BOMLR175
..... the appellants. hence the most favourable construction in favour of the plaintiffs which can be placed on the promissory notes is that they created a contract of indemnity whereby defendant no. 2 undertook to make good any loss that they might sustain. it was open to the plaintiffs to repudiate the mortgage transaction ..... all the three promissory notes (exhibits 98, 99 and 100) are similarly worded and if they are taken literally they do not purport to create a contract either of indemnity or of guarantee, but contain an unqualified promise by defendant no. 2 to pay on demand rs. 5,000 with future interest at nine per ..... and . the collateral security offered by the surety for its performance are to be deemed to constitute but one cause of action. whereas in a contract of indemnity the promisor engages to save the promisee from loss caused by the conduct of the promisor himself or by the conduct of any other person (s ..... have undertaken the liability under the mortgage deed. it is not clear from the judgment whether the undertaking was regarded as a guarantee or a contract of indemnity, but the decretal order shows that it was treated as an agreement to make good any loss that might be caused to the plaintiffs if ..... in consequence of that transaction, and in fact they have not claimed anything more from them in this suit.10. thus the contract being one of indemnity the plaintiffs' claim against defendant no. 2 must be held to be premature. it is clear from section s 124 and 125 of the .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jan-03-1939
..... , whether railroad or nonrailroad, claims for future rents depended for their provability page 305 u. s. 504 upon the fact of reentry, [ footnote 16 ] the existence of a clause for indemnity in case of breach, [ footnote 17 ] or the incidence of the maturity of the rent claim under the local law. [ footnote 18 ] the damages recovered by an injured party have ..... 1898, as amended, is amended to read as follows:" "(a) debts of the bankrupt may be proved and allowed against his estate which are . . . (7) claims for damages respecting executory contracts including future rents whether the bankrupt be an individual or a corporation, but the claim of a landlord for injury resulting from the rejection by the trustee of an unexpired ..... be carried on in a bankruptcy court with equity powers, it was natural to add the clause as to equitable proceedings. leases were placed upon the same basis as executory contracts. the new haven urges that the reference to "equitable proceedings" is to receiverships in equity, as such receiverships were mentioned twice in the same subsection. the use of "equitable ..... at self-rehabilitation. [ footnote 5 ] everyone interested in bankruptcy problems had long been familiar with the future rent situation and its ramifications into the fields of anticipatory breach of executory contracts and the provability of contingent claims. [ footnote 6 ] during the years 1933 to 1935, the congress dealt on several occasions with landlords' claims for future rent. the act of .....Tag this Judgment!
Court : Allahabad
Decided on : Feb-07-1939
Reported in : AIR1940All95
..... stock sold for him, and that the defendant merely intended that the differences should be paid. the plaintiff actually entered into contracts on behalf of the defendant upon which the plaintiff became personally liable; and he sued the defendant for indemnity against the liability incurred by him and for commission as broker. it was held that the plaintiff was entitled to recover ..... a small cause court judge. the plaintiff is a firm of commission agents carrying on business at moradabad. the plaintiff's case was that bhagirath mal, defendant, entered into forward contracts for the purchase and sale of wheat through the agency of the plaintiff's firm and that there was a loss in those transactions to the extent of rs. 398 ..... the terms that no delivery should be demanded but that differences only should become payable. on these grounds he concluded that the transactions in question amounted to wagering contracts. he therefore held that the contracts were void and the plaintiff's claim on the basis thereof could not be maintained. he however observed that, if the decision of the issue noted above ..... for the employment of the plaintiff by the defendant was not against public policy, and was not illegal at common law, and, further was not in the nature of a gaming and wagering contract.4. to constitute .....Tag this Judgment!
Court : Allahabad
Decided on : Nov-23-1939
Reported in : AIR1940All182
..... perusal of that case it appears that it was held that pakka arhtiya while entitled to charge against his principal his expenses and entitled also to an indemnity against all losses resulting from carrying out his duty, is under an obligation to pay to his principal the amount due after the accounts have been ..... by one party to the other. para. 2 clearly provides that the defendant will have no right to call for delivery. para. 4 of the contract provides that the defendant will have no right whatsoever even to inquire from the plaintiff his pakka arhtiya as to whom he had to pay any ..... settled. the terms of the contract between the parties to that suit cannot be ascertained from the judgment and therefore it is difficult to hold that that ruling is against the defendant ..... a pakka arhtiya differs in this respect from that of an ordinary commission agent...all that could be said is that the common intention of the two contracting parties (i.e. the plaintiff and defendant) must be proved....8. learned counsel appearing for the plaintiff-applicant has very strongly contended that the position ..... his constituent, the defendant, on the other. there is no question of agency in such cases. it is true that in para. 1 of the contract between the parties the plaintiffs style themselves as agent. but that does not make any difference because in the same paragraph it is stated that the plaintiffs .....Tag this Judgment!
Court : Chennai
Decided on : Oct-11-1939
Reported in : AIR1940Mad504; (1940)1MLJ173
..... which were binding on him, but is clearly one which cannot be supported.4. in the present case the respondent was in effect suing for an indemnity against his principal. section 222 of the indian contract act says that the employer of an agent is bound to indemnify him against the consequences of all lawful acts done by such agent in exercise .....Tag this Judgment!
Court : Privy Council
Decided on : May-05-1939
..... is said that the respondents have by reason of the fire lost their commission and charges without being indemnified, the answer is that the policy provided no indemnity for that loss. it is outside the purview of this insurance. further, if it is said that the appellant gets a sum for the goods which includes ..... the subject-matter was the ship which was properly defined; it was held to be unnecessary to define the nature of the assured'a interest. the contract was a contract by way of reinsurance. the assured's liability under the original policy gave him an incurable interest in the ship, which was the subject-matter of ..... of the respondents' charges and commission. there are many answers to this objection. in the first place, insurance does not necessarily give a perfect indemnity, but gives sometimes more and sometimes less. this may happen in several cases, but particularly in the case of a valued policy, where the measure of ..... indemnity is fixed by the value, which is in effect the position under the present policy, as already pointed out. in fact if there had been ..... . it was however contended by the respondents that the decision of the supreme court of new south wales would infringe the principle of indemnity, which is the fundamental principle of insurance law. it was said that the appellant was awarded by that decision more than an .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-10-1939
Reported in : AIR1940Cal217
..... 's argument did not i think go so far as to contend that an endowment policy is not a policy on life. an endowment policy is wholly a contract of life insurance; a double contract of life insurance the event in one case being death and the event in the other case being life. see the remarks in gould v. curtis (1913 .....Tag this Judgment!
Court : US Supreme Court
Decided on : Mar-27-1939
..... compensation under the california act for injuries received in the course of his employment in that state, naming petitioner as insurance carrier under that act; the hartford accident & indemnity company, as insurer under the massachusetts act, was made a party. the california commission directed petitioner to pay the compensation prescribed by the california act, including the amounts ..... compensation for the massachusetts employee if injured within the state of california, but it expressly provides, for the guidance of its own commission and courts, that "[n]o contract, rule or regulation shall exempt the employer from liability for the compensation fixed by this act." the supreme court of california has declared in its opinion in this ..... similarly, the constitutionality of the provisions of the california statute awarding compensation for injuries to an employee occurring within its borders, and for injuries as well occurring elsewhere, when the contract of employment was entered into within the state, is not open to question. alaska packers association v. industrial accident comm'n, 294 u. s. 532 ; new york ..... appears: not only does the california statute conflict with the massachusetts statute in respect of its application to employees injured in california, but it also expressly provides that "no contract, rule or regulation shall exempt the employer from liability for the compensation fixed by this act," and further, the supreme court of california, in its opinion in this .....Tag this Judgment!
Court : US Supreme Court
Decided on : May-29-1939
..... of these intangibles by the state of the corporation's legal domicile. the presumption of a taxable situs solely in new jersey is not overturned. universal insurance company and universal indemnity insurance company have appeals involving the same questions. by stipulation these cases were consolidated for review below and appeal here. page 307 u. s. 323 these appellants are new jersey ..... in action were the indebtedness for or the proceeds of sales confirmed in west virginia, attributable "to the place where they arise in the course of the business of making contracts of sale." in first bank stock corp. v. minnesota, supra, another delaware corporation was found to have established a commercial domicile for itself and given a business situs to certain ..... comparison with new jersey or the other states. we are not told where business is accepted, moneys collected, or insurance contracts made. the securities may represent local loans or investments in new jersey or elsewhere made from funds derived from similar insurance contracts with a business situs at those points. [ footnote 21 ] they may be the result of insurance activities of many .....Tag this Judgment!
Court : Chennai
Decided on : Oct-17-1939
Reported in : AIR1940Mad686; (1940)1MLJ693
..... was held by their lordships of the privy council that he had no right to recover those amounts as all that he was entitled to was an indemnity against the incumbrances affecting the land, i am clearly of opinion that this principle cannot apply to the facts of the present case which has to ..... ; so that, if a part of the profits initially excluded was not applied as directed, it became usufruct as a matter of course and without a special contract to that effect. the proper way then of viewing the question, is : has the part excluded, in the events that have happened, regained its character of ..... usufruct towards interest due to him or towards interest and principal, if any surplus is left after meeting the interest. in the present case, s the contract between the mortgagee and the mortgagor provides that rent payable by the mortgagor to the jenmi should be paid by the mortgagee out of the receipts from ..... and the surplus, if any, in reduction of the principal money and this obligation is excluded only if and in so far as, there is a contract between the parties that such receipts shall be taken in lieu of interest on the principal money or in lieu of interest and portions of the principal ..... to the mortgagor.4. section 77 says:nothing in section 76, clauses (b), (d), (g) and (h), applies to cases where there is a contract between the mortgagee and the mortgagor that the receipts from the mortgaged property shall, so long as the mortgagee is in possession of the property, be taken in lieu .....Tag this Judgment!