Court : Chennai
Decided on : Apr-26-1976
Reported in : AIR1977Mad44; (1977)1MLJ218
..... the conduct of the vendors themselves or by the conduct of any other person. this is clearly a contract of indemnity falling under section 124 of the indian contract act. a contract of indemnity contained in an instrument which is implied by law or is ancillary to the main purpose is not ..... it has to be taken to mean a binding and enforceable contract. here, apart from the contract of sale, there is no other contract to secure the performance of which the document had been executed. though the property given as indemnity in the document in question is of a specified property, and ..... saidapet, madras has been substituted by the document in question. the document merely substitutes another property for the property that was originally given as indemnity in the sale deed. the respondents have not engaged themselves earlier to the document to perform any particular act or service. neither under ..... an assurance to substitute another property as indemnity cannot be treated as an "engagement" entered into between the vendor and the vendee. the word 'engagement' is not defined in the stamp act or in the contract act, but it must mean 'a contract' as not defined in the stamp act ..... separately chargeable with duty as an indemnity bond. it is for this reason a convenient relating to a warranty of title included in a conveyance is not chargeable separately as an indemnity .....Tag this Judgment!
Court : Chennai
Decided on : Nov-26-1976
Reported in : (1978)1MLJ196
..... to make in that suit. she also claims that defendants 2 and 3, who are the sons of the first defendant, are bound by the contract or indemnity given by the first defendant even though they have created a fraudulent partition deed on 4th december, 1959.2. according to the contentions of the first ..... defendant personally and from defendants 2 and 3 from out of the family properties in their hands, a sum of rs. 79,544 based on a contract of indemnity. according to the plaintiff, on 7th june, 1944, as per the sale deed exhibit a-1 the first defendant, for himself and as guardian for ..... the first defendant and his minor sons are certainly liable to reimburse this amount to the plaintiff.23. since this is a suit for contribution based on indemnity, the plaintiff is certainly entitled to interest. the interest is claimed only at 5 per cent. per annum. hence, we set aside the finding of ..... and other impediments, but would include also every dispute which would cause loss to the vendee and thus it would amount to a specific covenant of indemnity to the vendee in case of his sustaining loss on account of any dispute arising in respect of the property. it is comprehensive enough to ..... into existence between the parties. therefore, we reject this contention. therefore, we have only to find out whether there was any covenant of title or indemnity entered into therein and whether the defendants have committed breach thereof. the relevant recitals in exhibit a-1 read thus:in the face of the above clear .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-23-1976
Reported in : AIR1977Bom53; (1976)78BOMLR262
..... will be governed by the general substantive law, which remains untouched by this special law. we have already shown that it is on the contract of indemnity that the insurer is liable to pay compensation only it the insured is liable to pay damages to the claimant. if the insured is not ..... governed by the principles of negligence of the owner and the driver. this view was taken upon the footing that the said provisions are mere indemnity provisions. the full bench then proceeded to observe at page 9 as follows:--'however, the ingredients of the liability of the insurer are nowhere, ..... the provisions referred to above, clearly establish the legislative intent to make departures not only from the law of torts, but also the law of contract-in so far as the insurer and the insured in the matter of claims for compensation arising under the said chapter are concerned.86. the ..... the latter cases require specific reference to exclude defences of 'volenti not fit injuria' or persons not entitled to compensation as _ being contractors to the contract of conveyance. it is inconceivable that the legislature would intend absolute liability only in cases covered by clause (ii) and not in cases covered by ..... security first: the various arrangements set up by legislation can be said to attempt to give an adequate standard of living to those who have contracted diseases, lost their employment, fallen on hard times and who have grown old. but in addition the state financed benefits beyond the provision of .....Tag this Judgment!
Court : Rajasthan
Decided on : Nov-29-1976
Reported in : AIR1977Raj121
..... of a vehicle, the policy comes to an end. it has been held that in the absence of stipulation to the contrary, an insurance policy, which is a personal contract of indemnity lapses upon the transfer of the motor vehicle and the benefit of the policy is not available to the transferee without any express agreement with the insurance company. in view ..... amount for the relevant period.(6) in a claim for damages for death under section 110-b of the act, as it now stands, sums payable on death under any contract of social assurance or insurance are to be disregarded, but the reasonable prospect(s) of receiving benefits such as compulsory employers' insurance, whether contributory or non-contributory gratuity and pension ..... insurance company is limited only to rs. 2,000/-. the liability of the insurer cannot exceed the one that is provided in the statute, unless there is a contract to the contrary. no such contract has been brought to our notice. the insurer had specifically taken this plea and the tribunal, therefore, appears to have fallen into error by fixing the liability .....Tag this Judgment!
Court : Rajasthan
Decided on : Nov-08-1976
Reported in : 1976WLN783
..... of a vehicle, the policy comes to an end. it has been held that in the absence of stipulation to the contrary, an insurance policy, which is a personal contract of indemnity lapses upon the transfer of the motor vehicle and the benefit of the policy is not available to the transferee without any express agreement with the insurance company. in view ..... relevant amount for the relevant period.(6) in a claim for damages for death under section 110b of the act as it now stands, sums payable on death under any contract of social assurance or insurance are to be disregarded, but the reasonable prospect(s) of receiving benefits such as compulsory employers' insurance, whether contributory or non-contributory gratuity and pension ..... the insurance company is limited only to rs. 2000/-. the liability of the insurer cannot exceed the one that is provided in the statute, unless there is a contract to the contrary. no such contract has been brought to our notice. the insurer had specifically taken this plea and the tribunal, therefore, appears to have fallen in to error by fixing the .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jun-14-1976
..... recover benefits under the double indemnity provision. the district court held that, under illinois conflict of laws rules, the law of the situs of the contract (michigan) applied, and that, under michigan law, the insurer was liable only for ordinary benefits. the administrator appealed. the insurer ..... track in order to board a commuter train which had not yet arrived at the station. the insurer paid cane's estate ordinary benefits, but denied liability under the double indemnity provision of the policy. page 426 u. s. 480 the administrator of cane's estate (respondent) sued the insurer in the district court for the northern district of illinois to ..... f.2d 376, vacated and remanded. per curiam. this is a diversity case. petitioner (the insurer) issued a life insurance policy in michigan to dean e. cane providing for double indemnity if cane's "death was the result of an injury sustained while the insured was a passenger in or upon a public conveyance then being operated by a common carrier ..... writ of certiorari to the united states court of appeals for the seventh circuit syllabus in a diversity action by respondent administrator against petitioner insurer for recovery under the double indemnity provision of a life insurance policy issued in michigan to respondent's decedent, who was killed in illinois, the district court ruled that, under illinois conflict of laws rules, michigan .....Tag this Judgment!
Court : Chennai
Decided on : Oct-08-1976
Reported in : 111ITR711(Mad)
..... act to a case where money becomes payable even during the life-time of the assured on the happening of a particular contingency, as cotemplated by the contract between the assured and the insurer, and in the present case when the money became payable on the expiry of the period of endowment. as we ..... the life insurance corporation must be read as a whole and in spite of the clauses referred to by mr. desai we consider that the contract is in substance a contract of life insurance with regard to the life of the assessee. the important point to notice is that if the assessee adopts the policy ..... time after attaining majority and before the deferred date the life assured may adopt the policy and on such adoption the policy is deemed to be a contract between the corporation and the life assured as the absolute owner of the policy from the date of such adoption. in our opinion, the requirement of ..... of section 15(1) of the indian income-tax act, 1922, to that policy, the supreme court held - see : 63itr627(sc) :'according to the contract of insurance the life insurance corporation was liable to pay the sum assured (a) on the stipulated date of maturity, if the life assured was alive on that date ..... life insurance, in this broad sense, is that it is a contract in any way relating to human life. this is perhaps too wide; a public liability, or employer's liability, policy, in so far as it provides indemnity against death claims, could be said to relate to human life, but it could not for .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Mar-11-1976
Reported in : AIR1976SC1414; (1976)3SCC32; 3SCR614; 1976(8)LC328(SC)
..... can be done by money, be placed in the same position as he would have been in if the contract had been performed. the rule as to market price is intended to secure only an indemnity to the purchaser. the market value is taken because it is presumed to be the true value of ..... from the breach. therefore, the principle is that as far as possible the injured party should be placed in as good a situation as if the contract had been performed, in other words, it is to provide compensation for pecuniary loss which naturally flows from the breach. the high court correctly applied these ..... court passed decrees awarding the respondents price of sugar and costs of damages and interest pendente lite and future interest.21. the appellant contended that the contract price should not have been awarded. the high court said that the evidence of plaintiff's witness gaya prasad showed the selling rate of sugar and ..... principles and adopted the contract price in the facts and circumstances of the case as the correct basis for compensation.23. for these reasons, the judgment of the high court is ..... the goods to the purchaser. one of the principles for award of damages is that as for at possible he who was proved a breach of a bargain to supply what he has contracted .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-26-1976
Reported in : 107ITR241(Bom)
..... the assessee. 5. turning to the second question the admitted facts are these : the assessee-company had been appropriating various sums to an account called 'reserve for employees' indemnities' and admittedly this was created in order to pay retrenchment compensation arising out of retrenchment of any member of the staff. the amount in question involved under this head ..... any prior indorser.... other instances of contingent liabilities which might involve a loss, should they accrue, would be damages and costs in the case of an action pending, forward contracts, guarantees for third parties, and speculative transactions on the stock exchange still undecided.' 12. it would thus appear that the contingent liabilities spoken of by clause 7(1) ..... the latter part of sub-clause (1) of clause 7 proceeds to stat : '.....in this sub-clause the expression 'liability' shall include all liabilities in respect of expenditure contracted for and all disputed or contingent liabilities.' it is thus clear that though the expression 'liability' is defined as inclusive of contingent liabilities, even so, such contingent liabilities must ..... and, after setting out these definitions. clause 7(1) (a) runs thu : 'and in this sub-clause the expression 'liability' shall include all liabilities in respect of expenditure contracted for and all disputed or contingent liabilities.' 8. what was urged by mr. joshi was that though the expressions 'provision' or 'reserve' have been defined as meaning certain things, .....Tag this Judgment!
Court : Gujarat
Decided on : Jan-22-1976
Reported in : 107ITR300(Guj)
..... have been a 'goods policy', that is, a policy insuring the assessee's proprietary interest in the machinery, and not merely a 'policy of indemnity' covering the bailee in respect only of its personal liability. once this conclusion is reached, it becomes clear that though by virtue of its insurable ..... 405, 406 and 412 and the cases cited in the footnote below the commentary). it is not shown here that there was any such special contract nor was our attention drawn to any statutory provisions imposing such an obligation. lastly, there is no material on record to support the submission that ..... if he chooses to make good the loss by a payment in money, he cannot, after the payment, insist, in the absence of any contract or statute to that effect, that the insured shall himself expend money paid in reinstatement. in other words, when the insured has received from the ..... was the beneficial owner thereof, right from the time the payment was made. under the circumstances, the fact that there was no privity of contract between the insurer and the assessee and that there was an intervening agency can make no difference in the ultimate conclusion that the 'transfer', even ..... a complete wiping out, destruction, annihilation, termination, cancellation or extinction and it is ordinarily used in relation to right, title, interest, charge, debt, power, contract, or estate (see corpus juris secundum, volume 35, page 294). in rawson's pocket law lexicon, the meaning assigned to it is : 'the destruction or .....Tag this Judgment!