Court : Mumbai
Decided on : Jul-27-1982
Reported in : (1983)34CTR(Bom)41; 142ITR57(Bom); 13TAXMAN524(Bom)
..... death, would mean that what is expressly a personal accident insurance policy is to be equated with an employer's liability insurance policy on the footing that it was a contract of indemnity which, on the face of it, the present is not. we fail to see what other purpose the circular could have had than to bestow benefits as of right ..... of money in the event of the assured sustaining accidental injury. it resembles life insurance and differs from other types of insurance in that it is not a contract of indemnity; it is merely a contract to pay a sum of money on the happening of a specified event, namely the sustaining by the assured of personal injury by such accidental means as ..... insured in so far as it is not too remote.30. as already pointed out, the insurance in the present case is not an insurance in the nature of a contract of indemnity. it is plainly a personal accident insurance and all that is required to be considered is : merely because the employee has not paid the premium, does its nature change ..... . employers' liability insurance.'28. the learned author has under this head given two types of cases where contracts of insurance are according to the nature of insurance; (1) where the contract is not one of indemnity, and (2) where the contract is of indemnity. under the heading 'contracts of indemnity' the learned author has pointed out as follows (p. 8) :'in this class of insurance the amount .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Jan-05-1982
Reported in : AIR1982P& H267; 55CompCas28(P& H)
..... , that aspect of the matter 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 if the insured is liable to pay damages to the claimant. if the insured is not liable, then the insurer is ..... remedies against a person primarily liable for the loss.'now the statutory definition of a contract of indemnity is in the following terms in s. 124 of the contract act:--'a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by ..... entitled to make a profit (out?) of his loss.'6. equally authoritative is the following enunciation of law in leake on contracts:--'insurance is a contract of indemnity only; consequently, an insurer of property, upon payment of the amount due under the contract, is subrogated to the assured, that is, is considered in equity as standing order in the place, and may pursue his ..... the provisions of the m. v. act, 1939 (hereinafter referred as 'the act').5. at the very threshold, the true nature of the contract of insurance deserves highlighting. that the very corner stone thereof is the principle of indemnity is now so well settled that it would be wasteful to elaborate this aspect. it suffices to recall the following from the authoritative .....Tag this Judgment!
Court : Kerala
Decided on : Aug-16-1982
Reported in : AIR1982Ker354; 58CompCas40(Ker)
..... -katappa shetty v. b. n. lakshmiah, 1973 acc cj 306 : (air 1973 mys 350) has taken the view we have taken, namely, that the insurance policy is a personal contract for indemnity and lapses upon the transfer of the vehicle and that therefore the benefit of the policy would not be available to the transferee without an express agreement with the insurance ..... of the accident, nor the first defendant who was driving the vehicle at that time, as an employee of the 2nd defendant. the con-tract of insurance is a contract of personal indemnity and therefore the insured cannot transfer the benefits under a policy so long as such benefits are contingent in short an insurance policy cannot be transferred by the insured ..... insurer agreeing to such a transfer there is a novation of the contract by which the original assured is substituted by the new assured, the transferee to whom the policy has been transferred. it follows both defendants 1 and 2 cannot look to the 3rd defendant-insurance company for any indemnity on the basis of an insurance policy issued by the 3rd ..... defendant. 4. in peters v. general accident, and life assurance corpn. ltd., (1938) 60 li l rep 311 ca sir wilfrid greene, m. r. said : --'it appears to me to be as plain as anything can be that a contract of that kind isin its .....Tag this Judgment!
Court : Jammu and Kashmir
Decided on : Mar-01-1982
..... to avoid his liability, where the insured is found to have incurred the liability because of the simple reason that a policy of insurance being in the nature of a contract of indemnity, the insurer takesupon himself to discharge the liabilityof the insured arising out of a motorvehicle accident, subject of course to theterms and conditions of the policyand the maximum statutory ..... in certain cases. section 96 provides that the liability of an insurer shall arise only if the insured is found liable because the policy of insurance is a policy of indemnity. section 97 deals with the right of a 3rd party against the insurer on the insolvency of the insured while section 98 casts a duty on a person against whom ..... first head avoidhis liability except on the grounds mentioned above, when a party takes out apolicy of insurance, does so afterpaying the premium for the sum assured and unless the contract between himand the insurer can be avoided, the insurance company which has been benefited by the premium cannot back outof its commitment to indemnify theinsured. this is manifest from the ..... , being one of the following conditions, namely; (i) a condition excluding the use of the vehicle:-- (a) for hire or reward, where the vehicle is on the date of the contract of insurance a vehicle not covered by a permit to ply for hire or reward or (b) for organised racing speed testing, or (c) for a purpose not allowed by .....Tag this Judgment!
Court : Jammu and Kashmir
Decided on : Mar-01-1982
Reported in : 55CompCas251(NULL)
..... to avoid his liability, where the insured is found to have incurred the liability because of the simple reason that a policy of insurance being in the nature of a contract of indemnity, the insurer takes upon himself to discharge the liability of the insured arising out of a motor vehicle accident, subject, of course, to the terms and conditions of the ..... in certain cases. section 96 provides that the liability of an insurer shall arise only if the insured is found liable because the policy of insurance is a policy of indemnity. section 97 deals with the right of a third party against the insurer on the insolvency of the insured while section 98 casts a duty on a person against whom ..... , being one of the following conditions, namely :-- (i) a condition excluding the use of the vehicle --(a) for hire or reward, where the vehicle is on the date of the contract of insurance a vehicle not covered by a permit to ply for hire or reward, or(b) for organised racing and speed testing, or(c) for a purpose not allowed .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Oct-13-1982
Reported in : AIR1982SC1497; 1983(0)KLT1(SC); 1982(2)SCALE875; (1982)3SCC358; 1SCR561; 1982(14)LC839(SC)
..... it cannot be disputed that the terms of the document on the basis of which the electricity board has claimed the amount from the bank constitute a contract of guarantee and not a contract of indemnity. under that document the bank has undertaken to pay any amount not exceeding rs. 50,000 to the electricity board within forty eight hours of the demand ..... between the electricity board and the company in liquidation. but the transactions viz. (1) the bank guarantee executed by the bank in favour of the electricity board, (2) the contracts of supply entered into between the electricity board and the company in liquidation and (3) the document under which the company in liquidation had given a fixed deposit receipt and ..... /- (rupees fifty thousand only) to the said maharashtra state electricity board, bombay on behalf of m/s. cochin malleables (private) ltd., trichur, who have tendered and/or contracted or may tender or contract hereafter for supply of materials equipment or service to the maharashtra state electricity board and have been exempted from payment of earnest money and/or security deposit against ..... maharashtra state electricity board (hereinafter referred to as 'the electricity board'). cochin malleables (p) ltd. (in liquidation) (hereinafter referred to as 'the company in liquidation') used to enter into contracts with the electricity board before it was ordered to be wound up by the high court of kerala to supply goods to the electricity board pursuant to tenders which were .....Tag this Judgment!
Court : Guwahati
Decided on : Feb-10-1982
..... (rupees twenty thousand) only is awarded in favour of the claimant which will be realised from the insurer, opposite party no. 3, messrs new india assurance co. ltd., by the contract of indemnity in terms of the insurance policy. thus, opposite party no. 3, the new india assurance co. ltd., shall be liable to pay the aforesaid awarded amount to the claimant ..... .' from the above language, it is clear that the insurer is made liable only by virtue of the indemnifying clause in the insurance contract which means that the insured is primarily liable .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Jul-29-1982
Reported in : 59CompCas15(P& H)
..... which appears to have been introduced with a view to prevent the insurers from seeking to avoid liability unless they have affirmatively declined to agree to the novation of the contract of indemnity. the sole purpose of informing the appellant about the transfer of the truck, vide letter, ex. r 5, was to seek its reaction to the transfer of the insurance .....Tag this Judgment!
Court : Mumbai
Decided on : Jan-19-1982
Reported in : 63CompCas135(Bom)
..... a wider coverage than the minimum act liability, it is that liability which he has undertaken to satisfy under the contract of policy, which is now crystallised in the statutory indemnity both in section 95(5) and in the duty to satisfy the judgment for that liability under section 96(1). ..... arising immediately after the words 'premium of rs. ' are blank. even the portion 'the sum of rs.' arising immediately after the words 'but such indemnity is limited to' is also blank. the portion relating to the limit is also found blank.33. shri b. v. acharya, learned counsel appearing for the ..... a person excluded under section ii(1)(b) being carried in or upon or entering or mounting or alighting from the motor vehicle but such indemnity is limited to the sum of rs... in respect of any one person and subject to the aforesaid limit in respect of any one person ..... the statute prescribed for the vehicle in question.' '29. therefore, if the insurance company had undertaken a wider liability for coverage in terms of the contract, it would be liable to indemnify the owner.30. then, shri b v acharya, learned counsel for the appellant- insurance company, drew our attention ..... liable to make good the additional liability within the overall limit of its contractual liability. merely because the insurance company voluntarily entered into a contract of insurance for a higher amount than the statutory limit prescribed for such an insurance, it cannot claim with impunity that even though the insurance .....Tag this Judgment!
Court : Karnataka
Decided on : Mar-16-1982
..... to it. mohamad khan, the alleged author of it, has also disowned it. 28. there is not even an iota of evidence to indicate that there was a privity of contract between mohamad khan and jabbar. on the contrary, the evidence on record indicates that ever since 1962, the relationship between abdul jabbar and mohamad khan was anything but cordial. their ..... third contract, by which the principal debtor expressly or impliedly requests the surety to act ..... whole transaction. then there must be a contract between the surety and the creditor, by which the surety guarantees the debt, and no doubt the consideration for that contract may move either from the principal debtor or both. but if those are the only contracts, in my opinion, the case is one of indemnity. order to constitute a contract of guarantee, there must be a ..... as surety. unless that element is present, it is impossible in my view to work out the rights and liabilities of the surety under the contract act. section 145 provides that .....Tag this Judgment!