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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Year: 1988 Page 1 of about 500 results (0.046 seconds)

Mar 11 1988 (HC)

C. Leo Machodo Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-11-1988

Reported in : (1988)69CTR(Mad)95; [1988]172ITR744(Mad)

..... maximum liability of the insurers. even within that limit, however, he cannot recover more than what he establishes to be the actual amount of his loss. the contract being one of indemnity, and of indemnity only, he can recover the actual amount of his loss and no more, whatever may have been his estimate of what his loss would be likely to be ..... halsbury's laws of england, fourth edition, vol. 25, under the heading 'insurance' in paragraph 3, it is observed as follows : 'most contracts of insurance belong to the general category or contracts of indemnity in the sense that the insurer's liability is limited to the actual loss which is in fact proved. the happening of the event does not itself entitle the ..... question of nexus between the payment, made by the insurance company and the transfer does not arise in the instant case. the payment received in pursuance of a contract of indemnity cannot be considered to be payment received in pursuance of contract of indemnity cannot be considered to be payment as a result of the transfer of property. it is well-established that a ..... for the pecuniary loss with consideration for transfer of a capital asset, in our view, is not at all warranted, having regard to the peculiar nature of the principle of indemnity on which contracts of insurance are based. we are, therefore, of the considered view that the amount received by the assessee in pursuance of the .....

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Mar 29 1988 (HC)

K.R. Visalakshi and ors. Vs. Pookodan Hamza and ors.

Court : Kerala

Decided on : Mar-29-1988

Reported in : I(1989)ACC30; AIR1989Ker192

..... air 1979 cal 152) and differed from that view for the following reasons :'it is a well settled principle of law that insurance is an indemnity contract and unless the owner is made liable, there is no liability on the insurer to indemnify the owner. hence it would not be correct to ..... the tribunal in those claim petitions.11. the finding of the tribunal in m.a.c. no. 170/82 was that the driver of the contract carriage alone was negligent. there is considerable force in the submission urged by the appellants that the tribunal should have considered all the claim petitions ..... avoidable anomaly.4. counsel for the respondents in this appeal objected to the entertainability of a joint appeal by the owner and insurer of the contract carriage. we submitted that the owner, who has not been made liable to any amount as compensation, has not suffered any legal grievance and ..... and negligence of both the drivers. consequently, the tribunal awarded recovery of the entire amount of compensation from the owner, driver and insurer of the contract carriage, whereas in the other four claims, the tribunal directed recovery of 50% of the amount of compensation alone from them, directing the other 50 ..... filed by the persons who were injured in an accident involving stage carriage no. klh 8204 which was proceeding from vazhikadavu to trichur, and a contract carriage bus no. ket 1714 which was proceeding from trichur to nadukani. the vehicles collided at a place called muppini in malappuram district on 1- .....

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Jan 21 1988 (HC)

Assam Bengal Roadways (P) Ltd. Vs. Hindustan Photo Films Manufacturing ...

Court : Chennai

Decided on : Jan-21-1988

Reported in : 2(1988)ACC391

..... insurer against the person responsible for the loss does not rest upon any relation of contract or of privity between them. it arises out of the nature of the contract of insurance as a contract of indemnity, and is derived from the assured alone, and can be enforced in his right ..... indemnified.14. the general rule of law is that where there is a contract of indemnity (it matters not whether it is a marine policy, or a policy against fire on land, or any other contract of indemnity) and a loss happens, anything which reduces or diminishes that loss reduces or ..... entirely equitable doctrine, but equity should not be permitted to upstage the common law in that way.' '...subrogation applies only in cases of indemnity insurance, but it applies to all types of insurances within that classification.17. so far as salvage is concerned, the law relating to ..... only.13. the branch of law relating to 'subrogation' in insurance is very interesting. the expression 'subrogation' in relation to a contract of insurance is not ..... more than a common way of referring to those terms which are to be implied in the contract .....

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Feb 01 1988 (HC)

National Insurance Co. Ltd. Vs. Sh. Romesh Kumar Gandotra

Court : Jammu and Kashmir

Decided on : Feb-01-1988

Reported in : AIR1989J& K65

..... had been arrived at without any discussion. according to mr. thakur, the trial judge failed to appreciate that an insurance policy is only a contract of indemnity and not a contract of -guarantee. he argued that without taking note of the terms and conditions of the policy of insurance, the extent of the liability ..... recording an erroneous finding.17. in chandmull jain v. general assurance society ltd., air 1959 cal 558, it was laid down that a contract of insurance is a contract of indemnity and 'when loss occurs it is for the assured to prove the actual amount of his loss. the sums mentioned in the policy, as ..... defendant-company was bound to pay insurance amount to the plaintiff.' that is not the correct position in law. a contract of insurance is not a contract of guarantee. it is only a contract of indemnity and an insurance company is liable to indemnify the assured against the actual loss suffered, subject to the extent of ..... the extent of the liability, if any, of the insurance company is required to be re-determined by the trial court in accordance with the law of indemnity as noticed above. we, therefore, recast issue no. 3 as under : --'(3) what is the actual amount of damage suffered by the plaintiff by ..... above.19. issue no. 3 was thus not properly framed for determining the extent of the liability of the insurance company. the essence of any indemnity clause is that the assured must prove the actual loss. on the basis of the issue, as framed in the case, no evidence was led .....

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Aug 10 1988 (HC)

United India Fire and General Insurance Co. Ltd. Vs. Natvarlal and ors ...

Court : Madhya Pradesh

Decided on : Aug-10-1988

Reported in : [1990]68CompCas558(MP); 1988MPLJ676

..... insurance company, the claimant is enabled by law to know the exact terms of the policy, even though he was not a party to the contract of indemnity. if the claimant, however, fails to inspect the policy of insurance and to allege that the insurance policy covers liabilityin excess of the statutory ..... behalf is made punishable by section 113(2) of the act. thus, the act enables a claimant to obtain all relevant information regarding the contract of indemnity entered into by the owner of the vehicle so that the liability for payment of compensation, in terms of the policy, could be fastened on ..... claimant, because a claimant has no right under a contract of indemnity to which he was not a party, to obtain the benefit of insurance. with a view to meet this difficulty, section 96(1) of ..... provision for compulsory insurance of a motor vehicle was, however, not sufficient to remove the hardship caused to a claimant. the insurance policy being a contract of indemnity between the insurer and the insured, ordinarily, an insurance company could not have been made a party in an application for compensation made by a ..... be awarded a sum higher than the said minimum statutory limit against the insurance company unless he pleads and proves that the insurer provided in the contract of insurance for a sum higher than that fixed under section 95(2)(b) ? (2) whether the tribunal can award against the insurance .....

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Aug 10 1988 (HC)

United India Fire and General Insurance Company Ltd. Vs. Natvarlal and ...

Court : Madhya Pradesh

Decided on : Aug-10-1988

Reported in : 1(1989)ACC9

..... company the claimant is enabled by law to know the exact terms of the policy, even though he was not a party to the contract of indemnity. if the claimant, however, fails to inspect the policy of insurance and to allege that the insurance policy covers liability in excess of the ..... behalf is made punishable by section 113(2) of the act. thus, the act enables a claimant to obtain all relevant information regarding the contract of indemnity entered into by the owner of the vehicle so that liability for payment of compensation, in terms of the policy, could be fastened on insurance ..... for compulsory insurance of a motor vehicle was, however, not sufficient to remove the hardship caused to a claimant. the insurance policy being a contract of indemnity, between the insurer and the insured, ordinarily, an insurance company could not have been made a party in an application for compensation made by a ..... awarded a sum higher than the said minimum statutory limit against the insurance company unless he pleads and proves that the insurer provided in the contract of insurance for a sum higher than that fixed under section 95(2)(b)?(2) whether the tribunal can award against the insurance company ..... claimant, because a claimant has no right under the contract of idemnity to which he was not a party, to obtain the benefit of insurance. .....

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Jul 15 1988 (HC)

Mathew Koshy Vs. the Oriental Insurance Co. Ltd.

Court : Kerala

Decided on : Jul-15-1988

Reported in : 2(1988)ACC504

..... of money in the event of his disablement or death by accident. it resembles life insurance and differs from other classes of insurance and it is not a contract of indemnity but a mere contract to pay a sum of money in a certain contingency. the appellant has no case that the, policy issued to him by the respondent is a personal accident ..... owner himself suffers an injury in an accident, he does not acquire any right to get compensation from the insurance company under the policy issued by the respondent is a contract of indemnity to satisfy the conditions laid down under section 95 of the act. the ingredients of the law of insurance are nowhere provided in the special statute. necessarily therefore the ..... to failure to perform a legal obligation.8. for other reasons also the claim put forward by the appellant is not sustainable. a contract of insurance in the widest sense of the term may be defined as a contract whereby one person called the 'insurer' undertakes in return for the agreed consideration called the 'premium' to pay to another person called the .....

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Jul 15 1988 (HC)

Mathew Koshy Vs. Oriental Insurance Company Limited

Court : Kerala

Decided on : Jul-15-1988

Reported in : 1(1989)ACC440

..... of money in the event of his disablement or death by accident. it resembles life insurance and differs from other classes of insurance and it is not a contract of indemnity but a mere contract to pay a sum of money in a certain contingency. the appellant has no case that the policy issued to him by the respondent is a personal accident ..... an accident, he does not acquire any right to get compensation from the insurance company under the policy issued to him. the insurance policy issued by the respondent is a contract of indemnity to satisfy the conditions laid down under section 95 of the act. the ingredients of the law of insurance are nowhere provided in the special statute. necessarily, therefore, the ..... to failure to perform a legal obligation.11. for other reasons also the claim put forward by the appellant is not sustainable. a contract of insurance in the widest sense of the term may be defined as a contract whereby one person called the 'insurer' under takes in return for the agreed consideration called the 'premium' to pay to another person called .....

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Sep 28 1988 (HC)

Anand Sarup Sharma Vs. P.P. Khurana and Others

Court : Delhi

Decided on : Sep-28-1988

Reported in : AIR1989Delhi88; [1989]65CompCas413(Delhi); 1989(16)DRJ27; 1988RLR693

..... insurance company and the insured was to indemnify the insured in respect of third party liability. without any doubt, it was a contract of personal indemnity. there is nothing in the insurance policy to indicate that the insurance company had undertaken to indemnify the person to whom the insured ..... covered the legal liability of the assured in respect of the use by the assured of a car other than the insured car. the assured claimed indemnity against claims by an injured person by his new car. at the time of accident he had sold the car, subject-matter of the insurance. ..... . after the sale, the insured was left with no insured was left with no insurable interest in the vehicle. thereforee, under the terms of the contract of insurance, the insurance company was not liable to indemnify the transferee. 23. has any liability been imposed on the insurance company by the statute, i ..... liability to any person being conveyed in or on the motor cycle unless such person is being conveyed by reason of or in pursuance of a contract of employment ....' 22. it is clear from this clause that the insurance company undertook to indemnify the insured against all sums which the insured becomes ..... has sold the vehicle prior to the accident. the insurance company could not be compelled to indemnify a person with whom it had no contract and who was .....

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Sep 28 1988 (HC)

Anand Sarup Sharma Vs. P.P. Khurana and ors.

Court : Delhi

Decided on : Sep-28-1988

Reported in : I(1990)ACC155

..... the insurance company and the insured was to indemnify the insured in respect of third party liability. without any doubt, it was a contract of personal indemnity. there is nothing in the insurance policy to indicate that the insurance company had undertaken to indemnify the person to whom the insured ..... further covered the legal liability of the assured in respect of the use by the assured of a car other than the insured car. the assured claimed indemnity against claims by an injured person by his new car. at the time of accident he had sold the car, subject-matter of the insurance. ..... ex-owner liable to indemnify the purchaser, who had purchased the vehicle from the ex-owner. these provisions do not have the effect of modifying the contract of insurance by adding the buyer of the vehicle as an insured person.section 96(1) of the act reads as under:duty of insurers to ..... liability to any person being conveyed in or on the motor cycle unless such person is being conveyed by reason of or in pursuance of a contract of employment.(b)...23. it is clear from this clause that the insurance company undertook to indemnify the insured against all sums which insured became legally ..... had sold the vehicle prior to the accident. the insurance company could not be compelled to indemnify a person with whom it had no contract and who was rather .....

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