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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Year: 1991 Page 5 of about 674 results (0.048 seconds)

Apr 24 1991 (HC)

Union Bank of India Vs. Avinash P. Bhonsle

Court : Mumbai

Decided on : Apr-24-1991

Reported in : 1991(3)BomCR735; (1991)93BOMLR282

..... of guarantee there must be a third contract, by which the principal debtor expressly or impliedly requests the surety to act as surety. ..... namely, (i) the illustration (c) to section 127 and (ii) that in kali charan v. abdul rahman and ors. (supra) the contract of guarantee came to be made in pursuance of a previous arrangement. none of these considerations would be sufficient to overlook the plain and natural meaning of ..... had materialised earlier even resulting the delivery of goods, but price remaining unpaid, would be regarded as not forming the consideration for the subsequent contract of guarantee. now the purpose of illustrations as is pointed out in aniruddha mitra v. the administrator general of bengal and ors. is to ..... 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 creditor or from the principal debtor or both. but if those are the only contracts, the case is one of indemnity. in order to constitute a contract ..... unless that element is present, it is impossible to work out the rights and liabilities of the surety under the contract act .....

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Sep 10 1991 (HC)

M/S. Triveni Engineering Works Ltd. Vs. M/S. Belganga Sahakari Sakhar ...

Court : Delhi

Decided on : Sep-10-1991

Reported in : ILR1992Delhi601

..... irrevocable letter of credit, restraining the issuing bank from recalling the amount paid under reserve from the negotiating bank acting on behalf of the beneficiary against a document of guarantee, indemnity, at the instance of the beneficiary. 34. on the basis of these principles i reiterate that commitments of banks must be honoured free from interference by the courts. otherwise, ..... reference to the mobilisation advance in the letter seeking encashment of bank guarantee, their action tantamounted to suppression of material facts in as much as the moblisation advance under the contract was to be recovered from the running bills. despite the allegation of suppression of material facts the supreme court held that failure on the part of the getsco to specify ..... credit) which imposes on the banker an absolute obligation to pay. 2. an irrevocable letter of credit has a definite implication. it is independent of and unqualified by the contract of sale or other underlying transactions. these observations a fortiori apply to a bank guarantee because on the bank guarantee revolve many of the internal trade and transactions in a ..... the agreement or the plant has given guarantee performance cannot affect the power of the purchaser-defendant no. i to invoke the bank guarantee. the bank guarantee being an independent contract between the bank and defendant no. 1, payment whereunder to the beneficiary (defendant no. 1) is not to be suspended or stopped by reason of existence of disputes between .....

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Jan 23 1991 (HC)

State Bank of India Vs. Smt. Kusum Vallabhdas Thakkar

Court : Gujarat

Decided on : Jan-23-1991

Reported in : (1994)1GLR655

..... and also security for the performance of that guarantee and it is a perfectly legitimate and legal way of conducting such commercial transactions. in fact chapter viii of the contract act deals with indemnity and guarantee and provides for this kind of tripartite arrangement.10. as regards consideration, it is true that no direct consideration flowed from the plaintiff to the defendant ..... such tripartite arrangement, anything done for the benefit of the principal debtor is a sufficient consideration to the surety for giving guarantee as expressly provided in section 127 of the contract act. thus, even though there is no consideration to the third party-surety for mortgage, the consideration of having done anything for the benefit of the principal debtor is a ..... therefore, in an agreement to execute mortgage, if there is any promise by the creditor to advance monies on creation of such mortgage, there cannot be specific performance of the contract to lend money. but when the lender has advanced the money and the debtor has agreed to create a mortgage, that agreement is specifically enforceable. this proposition has been laid ..... incomplete statement and incomplete quotation. that paragraph from mulla further reads as under:(e) in south african territories ltd. v. wallngton (f) lord macnaghten said that specific performance of a contract to lend money cannot be enforced is so well established, 'and obviously so wholesome a rule, that it would be idle to say a word about it' the remedy for .....

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Jan 21 1991 (HC)

M/S. Oriental Fire and General Insurance Co. Ltd. Vs. Union of India a ...

Court : Karnataka

Decided on : Jan-21-1991

Reported in : 1993ACJ1107; AIR1991Kant385; ILR1991KAR1614; 1991(1)KarLJ401

..... that it cannot be made out on whose count or at whose instance the insurance came to be taken and either insurance policy or the contract of the indemnity entered into between the appellant and the respondent could have thrown some light in how, why and who exactly took the insurance in the ..... in halsbury's laws of england, 4th edition (volume 41), at page 1756 of the report. the learned author says -'under a free on rail contract (f.o.r.) the seller undertakes to deliver the goods into railway wagons or at the station (depending on the practice of the railway) at his ..... to the consignee has to be decided on other evidence. ordinarily, it is consignor who can sue if there is damage to the consignment, because the contract of carriage is between the consignor and the railway administration. where, however, the property in the goods carried has passed from the consignor to consignee, ..... actual damage suffered by them. secondly, as the property in goods passed on the consignee the 2nd defendant by virtue of the nature of the contract and in the absence of there being any proof of a different intention, the plaintiffs could not file this suit for damages against the respondents. ..... incidental expenses etc. however, the ngef demanded from the appellant insurer rs. 1,71,000/- in full satisfaction of their claim in pursuance of the contract of insurance entered into between the appellant and the ngef. a letter of subrogation and general power of attorney in favour of the appellant came to .....

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Jan 21 1991 (HC)

Oriental F. and G. Insu. Co. Ltd. Vs. Union of India (Uoi),rep. by G.M ...

Court : Karnataka

Decided on : Jan-21-1991

Reported in : 1(1992)ACC58

..... that it cannot be made out on whose count or at whose instance the insurance came to be taken and either insurance policy or the contract of the indemnity entered into between the appellant and the respondent could have thrown some light on how, why and who exactly took the insurance in the ..... observations in halsbury's laws of england, 4th edition (volume 41), at page 1756 of the report. the learned author says--under a free on rail contract (f.o.r.), the seller undertakes to deliver the goods into railway wagons or at the station (depending on the practice of the railway) at ..... the consignee has to be decided on other evidence. ordinarily, it is the consignor who can sue if there is damage to the consignment, because the contract of carriage is between the consignor and the railway administration. where, however, the property in the goods carried has passed from the consignor to consignee, ..... damage suffered by them. secondly, as the property in goods passed on to the consignee the 2nd defendant by virtue of the nature of die contract and in the absence of there being any proof of a different intention, the plaintiffs could not file this suit for damages against the respondents. ..... incidental expenses etc. however, the ngef demanded from the appellant insurer rs. 1,71,000/- in full satisfaction of their claim in pursuance of the contract of insurance entered into between the appellant and the ngef. a letter of subrogation and general power of attorney in favour of the appellant came to .....

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Sep 10 1991 (HC)

Triveni Engineering Ltd. Vs. Belganga Sahakari Sakharkarkhana Ltd. and ...

Court : Delhi

Decided on : Sep-10-1991

Reported in : AIR1992Delhi164; I(1992)BC487

..... letter (if credit, restraining the issuing bank from recalling the amount paid under reserve from tli.e negotiating bunk acting on behalf of the beneficiary against a document of guarantee, indemnity at the instance of the beneficiary. 34.on the basis of these principles i reiterate that commitments of bank must be honoured free from interference by the courts. otherwise, trust ..... reference to the mobilisation advance in the letter seeking encashment of bank guarantee, their action tantamounted to suppression of material facts in as much as the mobilisation advance under the contract was to be recovered from the running bills. despite the allegation of suppression of material facts the supreme court held that failure on the part of the getsco to specify ..... of credit) which imposes on the banker an absolute obligation to pay. 2.an irrevocable, letter of credit has a definite implication. it is independent of and unqualified by the contract of sale or other underlying transactions. these observations a fortiori apply to a bank guarantee because, on the bank guarantee revolve many of the internal trade and transactions in a ..... the agreement or the plant has given guarantee performance cannot affect the power of the purchaser-defendant no. 1 to invoke the bank guarantee. the bank guarantee being an independent contract between the bank and defendant no. 1, payment whereunder to the beneficiary (defendant no. 1 ) is not to be suspended or stopped by reason of existence of disputes between .....

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Apr 26 1991 (HC)

Employees' State Insurance Corporation Vs. Swadesh Daily Newspaper

Court : Madhya Pradesh

Decided on : Apr-26-1991

Reported in : (1994)IIILLJ643MP; 1991(0)MPLJ914

..... position that no kind of agreement was at any time made, whether of insurance or indemnity, whether the insurance act or contract act, between the corporation and the employees/respondents.16. it is true that section 72, contract act recognises the principle that any person to whom money has been paid or anything ..... toiling and teeming millions of the country. as regards shri dubey's reliance on george 'joseph fernandes case (supra), that is on section 20, contract act about 'mistake' of parties in respect of an agreement between them. although to paras 22 and 23 of the report, shrf dubey has drawn ..... payment merely of 'contribution' contemplated under chapter iv of the act, neither the employer nor the employee can contend that a separate and independent contract of insurance between the corporation on one side and on the other side employer and/or employee was created and that was either void or ..... mittal on jainendra kumar 1985 jlj 533, which was a case on hindu law, in an appeal arising out of a suit for specific performance of contract, i deem misconceived. true, by referring to section 114(e), evidence act, the court stated therein the settled law that party suppressing any crucial ..... case of neither employer was covered by the said regulation. on behalf of respondent/employers, shri dubey endeavoured to sustain the impugned order, invoking section 70 contract act. he also cited i.t.c. ltd. v. george joseph fernandes : air 1989 sc 839. the thrust of the argument of shri mittal .....

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Aug 05 1991 (TRI)

Manager, Stores and Purchases, Vs. Collector of Custom

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : Aug-05-1991

Reported in : (1992)(40)LC481Tri(Delhi)

..... the delivery of aircraft and raising their invoice for the same. 1f. the apprasing authorities assessed the provisional duty allowing the reduction in price as claimed on execution of an indemnity bond. 1g. subsequently the appellant were served with a notice of less charge under cover of the additional collector of customs, air cargo complex igi airport, new delhi letter no ..... aircraft at delivery. therefore, it was urged that the credit memorandum is in the nature of an discount. the letter agreements were part of the purchase agreement and the purchase contract envisaged deductions as contained in the letters agreement. the learned counsel further contended that the transaction was on principal to principal basis and the agreement to purchase the aircraft was ..... memo of us $ 2 million for each of the firmly purchased a-320 aircraft. this credit memorandum will be made available at each concerned aircraft delivery to reduce the final contract price. letter agreement no. 6, the learned counsel pointed out relates to reimbursement of interim dry lease aircraft. it runs as follows: at the time of delivery of each of ..... each of the firmly purchased a-320 aircraft no. 1 to 19 and that this credit memorandum will be made available at each concerned aircraft delivery to reduce the final contract price. 1b. it was further agreed that the seller airbus industries will provide interim capacity requirements of the buyer pending commencement of delivery of the a-320 aircraft. the agreement .....

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Aug 06 1991 (HC)

M.V. Premkumar Vs. C. Sreerama Setty

Court : Karnataka

Decided on : Aug-06-1991

Reported in : ILR1992KAR894; 1991(3)KarLJ290

..... all persons so interested, the advantage so gained, but subject to repayment by such persons of their due share of the expenses properly incurred, and to an indemnity by the same persons against liabilities properly contracted, in gaining such advantage.'illustration (c) to section 90 reads thus:'(c) a mortgages land to b, who enters into possession. b allows the government revenue ..... purchase of 2 properties, the two other conditions to attract provisions of section 90 of the trusts act are conspicuously absent in as much as either in law or under contract, there was no obligation for him to pay the arrears of municipal taxes. in a later decision in the case of jayasingh dnyanu mhoprekar and anr. v. krishna babaji path ..... this mortgage deed about the exact decretal amount on the municipal taxes due and about the liability of the mortgagee to discharge the same. in other words, there was no contract between the mortgagors and the mortgagee that the mortgagee should pay the arrears of municipal tax of rs. 261-04 annas, that was the subject matter of the decrees. on ..... defendant purchased the properties on 15-1-1935. section 76-c of the transfer of property act is thus:'76 (a).......... (b)........ (c) he must, in the absence of a contract to the contrary, out of the income of the property, pay the government revenue, alt other charges or a public nature and all rent accruing due in respect thereof during .....

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May 03 1991 (HC)

Commissioner of Wealth-tax Vs. Smt. Janki Kishori Devi

Court : Allahabad

Decided on : May-03-1991

Reported in : (1992)102CTR(All)18; [1991]192ITR229(All); [1991]59TAXMAN206(All)

..... . in exercise of the same powers, the central government formulated yet another set of rules known as the 'public debt (compensation bonds) rules, 1954, which define bonds other than an indemnity bond or security bond, to mean a bond issued under rule 3, which runs as under ;'3. form bond issuable as government security under section 2(2)(b) of the ..... expression 'government security' in the two acts referred to above is that, while under the indian securities act, 1920, the 'government security' must be issued in respect of 'any loan contracted' either before or after the passing of the said act, the one under the public debt act, 1944, must be created and issued by the government for purposes of 'raising ..... any time or by the government of any part a state before november 1, 1956, or by a state government on or after that date 'in respect of any loan contracted' either before or after the passing of this act, but does not include a currency note. 7. according to section 2(2) of the public debt act, 1944, as it .....

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