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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Year: 1989 Page 1 of about 563 results (0.070 seconds)

May 30 1989 (HC)

New India Assurance Co. Ltd. Vs. Susamma Varghese

Court : Kerala

Decided on : May-30-1989

Reported in : 1990ACJ521

..... vehicle, the insurer will indemnify the owner. we cannot take it that when the owner who happens to be the driver is guilty of rash and negligent driving, the contract of indemnity will hold good. either way the claim against the insurer cannot succeed.6. if the claimant's husband was guilty of rash and negligent driving and such driving caused the ..... for the compensation adjudicated by the tribunal. the insurer's liability is based on the contract of indemnity entered into between the insurer and the owner of the scooter. the contract of indemnity, of course, is subject to the provisions of the act. the principle behind the contract of indemnity is that where the owner of a motor vehicle is compelled to pay compensation to persons .....

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Jun 15 1989 (FN)

Colonial Amer. Life Ins. Vs. Commissioner

Court : US Supreme Court

Decided on : Jun-15-1989

..... of the court. the arcane but financially important question before us is whether ceding commissions paid by a reinsurance company to a direct insurer under a contract for indemnity reinsurance are fully deductible in the year tendered, or instead must be amortized over the anticipated life of the reinsurance agreements. i this case involves the ..... reinsurance ceded shall be included in return premiums." thus, to compress petitioner's labyrinthine statutory argument, petitioner should prevail in this case if ceding commissions for indemnity reinsurance are fairly encompassed in either the statutory term "premiums and other consideration arising out of reinsurance ceded" or the regulatory definition "consideration returned to another ..... income] "). our agreement with respondent as to the character of ceding commissions therefore resolves this case, absent some specific statutory provision indicating that ceding commissions for indemnity insurance are an exception to the general rule for which congress has authorized current deduction. petitioner offers three possible sources in subchapter l of such a specific ..... reinsurance agreement, the reinsurer steps into the ceding company's shoes, becoming directly liable to the policyholders and receiving all premiums directly. in contrast, under an indemnity reinsurance agreement, the reinsurer assumes no direct liability, instead reimbursing the ceding company for a specified percentage of the claims and expenses attributable to the risks that .....

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Nov 22 1989 (HC)

National thermal Power Corporation Ltd. Vs. Hind Galvanizing and Engin ...

Court : Kolkata

Decided on : Nov-22-1989

Reported in : AIR1990Cal421

..... commercial bank v. bank of india (supra). in our opinion whether it is a bank guarantee or a letter of credit or contract of indemnity, the enforceability of such an instrument against the bank depends on the terms and conditions of the same. the question before the court in such ..... out some of the salient features of the same. bank guarantees and letters of credit practically stand on the same footing. in our opinion an indemnity given by a bank also stands on the same footing. this is also made clear in the supreme court judgment in the case of united ..... the trial court in an application for a interlocutory order filed by the plaintiff appellant. this also involved the question of enforcement of letters of indemnity/guarantee. the defendant no. 4 in that case was allahabad bank which executed 4 documents in favour of the defendant no. 3 which was ..... transaction of sale of goods with an irrevocable tetter of credit. but in modern commercial transactions, various devices are used to ensure performance by the contracting parties. the traditional letter of credit has taken a new meaning. in business circles, stand by letters of credit are also used. performance bond ..... the bank, however, was not allowed to determine whether the seller had actually shipped the goods or whether the goods conformed to the requirements of the contract. any dispute between the buyer and the seller must be settled between themselves. the courts, however, carved out an exception to this rule of .....

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Dec 22 1989 (HC)

National Insurance Co. Ltd. Vs. Annamma Babu and ors.

Court : Kerala

Decided on : Dec-22-1989

Reported in : 1990ACJ909

..... 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 ..... the policy of insurance which satisfies the requirements prescribed under section 95 is a contract of indemnity. it is fundamental that in a contract of indemnity the indemnifier is liable for damages or compensation which is relatable to or arising from the contract or on tort. the saying that 'the first principle of an insurance policy ..... within the meaning of the act.8. the word 'third party' under the section is intended to connote a person who stands outside the agreement or contract between the insured and the insurer though he may be the beneficiary thereunder. in our view, to bring within the words 'third party' the insured ..... clear that the policy issued under chapter viii of the act is one intended to cover the liability the insured would incur in terms of the contract. a claim for reimbursement can be admitted only if the insured has incurred a liability under the terms of the policy and in the particular ..... the liability of the insurer, the terms of the policy will have to be considered. it is well to remember that an insurance contract may cover risks which are in excess of or beyond the statutory limits set by section 95 of the act. but, the insured may not .....

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Dec 22 1989 (HC)

National Insurance Co. Ltd Vs. Annamma

Court : Kerala

Decided on : Dec-22-1989

Reported in : II(1990)ACC101

..... 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 condition laid down under section95 of the act. the ingredients of the law of insurance are nowhere provided in the special statute. ..... the policy of insurance which satisfies the requirements prescribed under section 95 is a contract of indemnity. it is fundamental that in a contract of indemnity the indemnifier is liable for damages or compensation which is relatable to or arising from the contract or on tort. the saying that 'the first principle of an insurance policy ..... within the meaning of the act.8. the word' third party' under the section is intended to connote a person who stands outside the agreement or contract between the insured and the insurer though he may be the beneficiary there under. in our view, to bring within the words 'third party' the ..... clear that the policy issued under chapter viii of the act is one intended to cover the liability the insured would incur in terms of the contract. a claim for reimbursement can be admitted only if the insured has incurred a liability under the terms of the policy and in the particular ..... the liability of the insurer, the terms of the policy will have to be considered. it is well to remember that an insurance contract may cover risks which are in excess of or beyond the statutory limits set by section 95 of the act. but, the insured may not .....

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Jun 19 1989 (HC)

Oriental Insurance Co. Ltd. Vs. Chimajirao Kanhojirao Shirke and anr.

Court : Mumbai

Decided on : Jun-19-1989

Reported in : 1992ACJ452

..... liability undertaken by the insurance company. this is what has exactly been argued by mr. kamat before us. gujarat high court has in terms held that insurance is a contract of indemnity and the insurance company is to indemnify the owner to the extent he is or may be liable. insurance company cannot be held liable if the owner, i.e., the ..... risks only. section iii of the policy refers to 'towing disabled vehicles'. other heads under this section are 'avoidance of certain terms and right of recovery', 'application of limits of indemnity', 'general exceptions', 'no-claim discount', etc. these have obviously no bearing on the question before us. in the schedule of the policy it is found that for recovering the damage ..... covered by the insurance policy, they have to pay personally the damages in excess of those limits. the payment of additional premium, according to mr. kamat, ensures additional or further indemnity in respect of damages to third parties but it certainly does not change the nature of the risk. in order to illustrate his submissions, mr. kamat referred to the report ..... whether it covered the injury including death of the owner of the truck mahindra, in this case. the second aspect, according to him, was that under the contract the plaintiffs were not required to show actual loss of rs. 6,00,000/-. assuming but not admitting, the claim had to be considered under the motor vehicles act, mr. .....

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Apr 17 1989 (HC)

Parmanand and ors. Vs. Manohardas

Court : Madhya Pradesh

Decided on : Apr-17-1989

Reported in : II(1989)ACC366; 1990ACJ888

..... act of the driver, but this primary liability of the driver and/or the owner who is insured in respect of the concerned vehicle, gets transferred by virtue of the contract of indemnity entered into between the insurer and the insured owner, namely, the policy of insurance in respect of the concerned vehicle. the primary liability on a finding of negligence being ..... the accident he cannot challenge the tribunal's finding in that behalf if his insurer is directed to pay the amount of compensation. the situation would be unjust since the contract of indemnity, viz., the insurance policy is based on the implicit faith that the insured's vehicle should truly be involved in the accident. but if the insured is not regarded ..... and if the latter be insured in respect of the offending vehicle the burden of paying the compensation to the claimant is shifted on the insurer by virtue of the contract of indemnity contained in the policy of insurance. if the insurer could be permitted under section 110-c (2-a) to challenge the finding of fault and the quantum of compensation .....

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Apr 17 1989 (HC)

Parmanand S/O Dayaram and ors. Vs. Manohardas S/O Govinddas

Court : Madhya Pradesh

Decided on : Apr-17-1989

Reported in : 1990(0)MPLJ466

..... act of the driver, but this primary liability of the driver and/or the owner who is insured in respect of the concerned vehicle, gets transferred by virtue of the contract of indemnity entered into between the insurer and the insured owner namely, the policy of insurance in respect of the concerned vehicle. the primary liability on a finding of negligence being ..... the accident he cannot challenge the tribunal's finding in that behalf if his insurer is directed to pay the amount of compensation. the situation would be unjust since the contract of indemnity viz., the insurance policy is based on the implicit faith that the insured's vehicle should truly be involved in the accident. but if the insured is not regarded ..... and if the latter be insured in respect of the offending vehicle the burden of paying the compensation to the claimant is shifted on the insurer by virtue of the contract of indemnity contained in the policy of insurance. if the insurer could be permitted under section 110-c(2-a) to challenge the finding of fault and the quantum of compensation .....

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Jun 19 1989 (HC)

Oriental Ins. Co. Ltd. Vs. Chimajirao Kanhojirao Shirke and anr.

Court : Mumbai

Decided on : Jun-19-1989

Reported in : I(1993)ACC128

..... liability undertaken by the insurance company. this is what has exactly been argued by mr. kamat before us. gujarat high court has in terms held that insurance is a contract of indemnity and the insurance company is to indemnify the owner to the extent he is or may be liable. insurance company cannot be held liable if the owner, i.e., the ..... risks only. section iii of the policy refers to 'towing disabled vehicles'. other heads under this section are 'avoidance of certain terms and right of recovery', 'application of limits of indemnity', 'general exceptions', ' no-claim discount', etc. these have obviously no bearing on the question before us. in the schedule of the policy it is found that for recovering the damage ..... , was that under the contract the plaintiffs were not required to show actual loss of rs. 6,00,000/-. assuming but not admitting, the claim had to be considered under the motor vehicles act, mr. ..... required to be borne in mind, namely, (i) the claim herein was not under motor vehicles act. it was on the basis of a contract. therefore, the pertinent question was to ascertain the exact nature of the contract and whether it covered the injury including death of the owner of the truck, mahindra in this case. the second aspect, according to him .....

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Aug 14 1989 (HC)

Hindusthan Paper Corporation Limited Vs. Keneilhouse Angami

Court : Kolkata

Decided on : Aug-14-1989

Reported in : (1990)1CALLT200(HC),[1990]68CompCas361(Cal)

..... , a division bench of this court held as follows (at page 364) :'whether it is a bank guarantee or a letter of credit or contract of indemnity, the enforceability of such an instrument against the bank depends on the terms and conditions of the same. the question before the court in such a ..... on the basis of the said bank guarantee and not the right of the beneficiary as such against the other party to the contract under the said original contract. the original arbitration agreement may be very wide or general in terms, but that certainly does not include a dispute arising ..... by the beneficiary against the bank based on the bank guarantee cannot form the subject-matter of an adjudication under the arbitration clause between the parties to the original contract. in this context, reliance is placed on the following decisions :(i) union of india v. raman iron foundry, : [1974]3scr556 ; (ii) united ..... sd.) illegiblebranch manager,g. s. road, shillong.'dated at shillong.15th july, 1985.4. disputes and differences arose between the parties to the main contract as stated in the petition. it is stated that the plaintiff submitted its claim and there was some appointment of arbitrators. thereafter, this application was ..... ;'in the event of any question or disputes arising under or out of these conditions or in connection with this or relating to this contract except as to any matters the decision of which is specifically provided for in these conditions the matter in dispute shall be referred to .....

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