Court : Kolkata
Decided on : May-12-1978
Reported in : AIR1979Cal44,(1981)1CompLJ356(Cal)
..... conduct of the promisor himself or by the conduct of any other person, is called a contract of indemnity.' the section, in its terms is dependent upon the obligation which arises on the loss caused to the party to be indemnified. the loss ..... the state bank of india to the bank of alexandria. the scope and effect of an indemnity is dealt with under the provisions of s. 124 of the indian contract act which provides as follows : 'a contract by which one party promises to save the other from the loss caused to him by the ..... june, 1974 it has been stipulated that 'notwithstanding the foregoing' stc maintains 'texmaco failed to perform in an orderly manner its obligations under the aforesaid contract. in the view of the foregoing, stc hereby asks you to make full payment'. whether stc has acted logically or illogically, rationally or irrationally is ..... . except possibly in clear cases of fraud of which the banks have notice, the courts will leave the merchants to settle their disputes under the contracts by litigation or arbitration...... the courts are not concerned with their difficulties to enforce such claims : these are risks which the merchants take. in ..... ltd. braithwaite and co. (india) ltd. and state trading corporation of india ltd. on the 20th jan. 1973 (hereinafter referred to as back to back contract) texmaco have agreed to- (a) manufacture and supply 867 gas wagons (hereinafter referred to as wagons) at the total price of rs. 9,90,11,400 .....Tag this Judgment!
Court : Chennai
Decided on : Mar-17-1978
Reported in : 49CompCas875(Mad)
..... in section 110c(2a) of the act. 30. as i understand the broad underlying concept of third party insurance, it is, in essence, a contract of indemnity. the indemnifies1 is liable if the principal is liable. the only safeguard the indemnifies requires under the law is to see that he is not put ..... the name of the insured the defence or settlement of any claim or to prosecxite in the name of the insured for its own benefit any claim for indemnity or damage or otherwise '. the words, ' take over the conduct ' and ' in the name of the insured ' are an echo of the observations ..... defence of proceedings in any court of law in respect of any act or alleged offence causing or relating to any event which may be the subject of indemnity under the policy. ' undertaking ' the defence, in my view, can only arise with reference to another's defence, not with reference to one's own ..... are statutory. the defences open to an insurance company are also statutory. in these circumstances, the terms of the policy of insurance, as a piece of contract, cannot override the clear provisions of the statute. it may be observed, in this connection, that elsewhere in the statute. parliament has provided for certain ..... or claim for compensation. he said that nothing in the motor vehicles act would prevent the insurance company and the assured, as parties to a contract of insurance, from inserting appropriate terms in the insurance policy itself which would have the effect of enabling the insurance co'mpany to raise all .....Tag this Judgment!
Court : Gujarat
Decided on : May-04-1978
Reported in : AIR1979Guj9; (1978)GLR1134; (1978)GLR913
..... carried for any hire or reward or by reason of or in pursuance of a contract of employment would not be required to be covered in view of the aforesaid settled legal position. this being ultimately a contract of indemnity, if the policy of insurance is not compulsory, the insurance company could not be ..... exception 'where the vehicle is a vehicle in which passengers are carried for hire or reward or by reason of or in pursuance of a contract of employment' and therefore, the vehicle would satisfy the user test once the passengers fulfill this necessary condition of being carried for hire or reward ..... 'except where the vehicle is a vehicle in which passengers are carried for hire or reward or by reason of or in pursuance of a contract of employment, the relevant time contemplated in the exception would have to be borne in mind, also for the purposes of that exception to the ..... clan of goods, for another person at any time and in any public place for hire or reward, whether in pursuance of the terms of a contract or agreement or otherwise, and includes any person, body, association or company engaged in the business of carrying the goods of persons associated with that person ..... service vehicle' to mean any motor vehicle used or adapted to be used for the carriage of passengers for hire, or reward, and includes a motor cab, contract carriage, and stage carriage. section 2 (28) defines 'public carrier' -to mean an owner of transport vehicle who transports or undertakes to transport goods, or .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jan-01-1978
..... question whether the due process clause permits a tort plaintiff to obtain jurisdiction in new york over a defendant whose sole contact with the state arises from the defendant's contract for indemnity with a company that does business in new york. [ footnote 1 ] the case presents an issue of considerable importance, with troublesome ramifications in the spacious arena of personal injury .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-29-1978
Reported in : AIR1979Cal56,83CWN162
..... the plaintiff submitted to the defendant company a claim for the loss of money for rs. 30,000/- which was the limit of indemnity for loss under the said contract of insurance, although actual loss was more. the defendant company, thereafter, arranged to inspect the loss by its surveyor at the premises ..... such key has been obtained by violence or the threat of violence to the insured or to a member of his staff.' 11. the indemnity, in the first instance, relates to the circumstance when the property is stolen or damaged or the premises is damaged after an actual forcible ..... may set out below the relevant portion of the policy: 'burglary and house breaking policy (as defined)(business premises) ............if during any period of indemnity the property or any pan thereof whilst within the premises shall after actual forcible and violent entry of the premises be stolen or damaged by thieves ..... a clause commonly called scott v. avery clause was considered in heyman v. darwins ltd. (1942) ac 356, and lord wright observed: 'the contract, either instead of or along with a clause submitting difference and disputes to arbitration, may provide that there is no right of action save upon the ..... an insurance policy. 2. the case of the plaintiff, a partnership firm, was that the defendant, commercial union assurance company limited, entered into a contract of insurance with the plaintiff by issuing a burglary and house breaking policy dated sept. 17, 1966, indemnifying loss of money to the limit of rs .....Tag this Judgment!
Court : Chennai
Decided on : Dec-08-1978
Reported in : (1980)1MLJ411
..... creditor, the principal debtor and the guarantor or surety. as pointed out in periamanna marakayar & sons v. banians & co. : air1926mad544 , a contract of guarantee, unlike one of indemnity, requires the concurrence of three parties viz., the principal debtor, the creditor and the surety, and the surety should undertake the obligation at the ..... unable to point out that the word 'ensure' has anywhere been used in the sense of 'guarantee' in any standard text-book on the law of contracts. from the above discussion, 1 unreservedly and unhesitatingly hold that the word 'ensure' has been used in exhibit a-13 only in its ordinary, common, ..... , characterizing the act. with reference to a written instrument, it signifies the meaning of the words used; the legal intention deducible from the language of the contract and acts of parties.29. in ex parte chick, in re meredith (1879) 11 ch. d 731, brett, l.j., following the rule of ..... inconsistent with the general tenor of the document, but where the intention of the parties is not sufficiently clear the court will not make a contract for them in order to prevent the whole agreement from being void on the ground of uncertainty or otherwise.the supreme court in central bank of ..... a deed shall never be void where the words may be applied to any intent to make it good'... in order to give effect to a contract according to what appears to have been the intention of the parties, the court will in certain cases imply a term or condition or a qualification .....Tag this Judgment!
Court : Delhi
Decided on : Oct-27-1978
Reported in : ILR1979Delhi346
..... is founded says that the subrogee is entitled to no more than what he has paid to the insured. an indemnity insurer has an equitable right, whether specified in the insurance contract or not, to pursue the insured's right in the latter's name against any defendant, be he a tort ..... always represent the plaintiff's actual loss. the object is to place the insured as far as possible in as good a condition as if the contract of carriage had been performed' by the railways. thereforee, the price at which the goods were purchased from the german manufacturers plus freight etc. ..... rights. on the hirer the agreement confers two distinct sets of rights, namely, the benefit of the hiring which constitutes the bailment part of the contract and the option to purchase, which it is now established, constitutes a separate and proprietory right capable of independent assignment. the option to purchase constitutes ..... indemnified for his loss by the insurers, may assign to the latter his right to recover damages from the defendants. he assigns the benefit of his contract with the ship owners to the insurers together with the attached right to recover damages for breach. to put it differently : suppose the insurer who ..... the suit on behalf of the plaintiff 2. whether the suit is maintainable at the instance of the plaintiff? 3. whether there was privity of contract between plaintiff no. 2 and the defendants 4. whether the suit is within time 5. whether there was any short delivery of goods at varanasi .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jun-26-1978
..... until about 1977-1978. thus, there is uncertainty as to whether these plants would receive protection in the form of government indemnity. reactor manufacturers and architect-engineers are already requiring escape clauses in their contracts to permit cancellation in the event some form of protection from unlimited potential liability is not provided. action is required soon ..... bankruptcy or reorganization, recovery would likely be further reduced and delayed. see joint committee on atomic energy, issues of financial protection in nuclear activities in selected materials on atomic energy indemnity and insurance legislation, 93d cong., 2d sess., 110 (comm.print 1974). [ footnote 37 ] see prosser, supra, n 34, at 520-521. [ footnote 38 ] ..... suits, is constitutionally mandated, or is instead simply a prudential limitation. [ footnote 26 ] mr. justice rehnquist undertakes to sever the action of the nrc in executing indemnity agreements under the act from the act's alleged constitutional infirmities -- particularly the liability limitation provisions. careful examination of the statutory mechanism indicates that such a separation simply ..... the potential liability dwarfed the ability of the industry and private insurance companies to absorb the risk. see hearings before the joint committee on atomic energy on government indemnity for private licensees and aec contractors against reactor hazards, 84th cong., 2d sess., 122-124 (1956). thus, while repeatedly stressing that the risk of a major .....Tag this Judgment!
Court : US Supreme Court
Decided on : Feb-22-1978
..... from this omission. if the bond is held to cover claims against remote subcontractors, proximate subcontractors will no doubt be required to indemnify the general contractor. in return for the indemnity, these subcontractors will no doubt demand that the general contractor promptly transmit any statutory notice he receives. [ footnote 2/15 ] "a sub-subcontractor may avail himself of the ..... even require a bond from each subcontractor. in fact, because the general contractor is liable, even under the court's view, for claims against subcontractors in the first tier, indemnity agreements between general contractors and their subcontractors are common today. one was required in the present case. ante at 434 u. s. 593 n. 7. my reading of the ..... contractor or his surety, while having initial responsibility for payment of the claimant, would probably in turn either withhold that amount from, or file a claim against, a bond or indemnity furnished by, the intermediate subcontractor. (here, for example, it appears that pierce had agreed to indemnify bateson against such losses. brief for petitioners 18 n. 15.) hence, notice ..... the assumption that colquitt's employees would not be covered by the payment bond. bateson required an indemnity agreement from pierce, brief for petitioners 18 n. 15, doubtless in part to protect bateson from claims against the payment bond made by those contracting with pierce. but pierce did not require a similar agreement from colquitt, ibid., presumably because pierce .....Tag this Judgment!
Court : Mumbai
Decided on : Jul-24-1978
Reported in : (1979)81BOMLR340; 49CompCas1(Bom)
..... or liability due by the company'. the remedy provided is for the company to sue on the indemnity which is given by the plaintiffs under this clause. hence, clause 6 is not a condition of the contract. 8. secondly, it is not at all clear whether the plaintiffs have committed any breach ..... of trade and commerce or the economic development of the country it is necessary or expedient so to do it may specify any class of contracts as contracts to which the act may not apply. therefore, individual transactions of sales of shares in a private limited company cannot be exempted under this ..... set up by the defendants under clause 6 of the agreement is concerned, it is a claim which the company has against the plaintiffs for indemnity in case the company is called upon to discharge a liability covered under the clause to a third party. under this clause, the plaintiffs have ..... member shall be illegal.' by a notification dated 29th november, 1957, s. 13 has been made applicable to greater bombay. as a result, the present contract is in contravention of the provisions of s. 13 and is illegal. secondly, the agreement provides for payment of price of the shares by annual installments. ..... has taken place in bombay. neither party to the agreement is a member of the stock exchange. hence, the agreement violates s. 13 of the securities contracts (regulation) act, 1956, which provides as follows : '13. if the central government is satisfied, having regard to the nature of the volume of transactions .....Tag this Judgment!