Skip to content


Judgment Search Results Home > Cases Phrase: pawnee contract Sorted by: recent Court: drat madras Page 1 of about 53 results (0.024 seconds)

Aug 28 2002 (TRI)

Medichem Industries Vs. Bank of Baroda

Court : DRAT Madras

Reported in : II(2003)BC29

..... bank cannot retain the seized goods and file the suit for recovery of the entire amount.section 176 of the indian contract act, 1872, deals with the rights of a pawnee and provides that in case of default by the pawner the pawnee has, (1) the right to sue upon the debt and to retain the goods as collateral security, and (2) the ..... place the pawner is entitled to redeem the goods on payment of the debt. it follows therefore that where a pawnee files a suit for recovery of debt, though he is entitled to retain the goods he is bound to return them on payment of the debt and the pawner therefore ..... in a position whereby he is not able to redeliver the goods, he cannot obtain a decree. the apex court has also observed in the same judgment that once the pawnee by virtue of his right under section 176 sells the goods, the right of the pawner to redeem them is of course extinguished. but as aforesaid, the ..... pawnee is bound to apply the sale proceeds towards satisfaction of the debt and pay the surplus, if any, to the pawner. so long, however, as the sale does not take .....

Tag this Judgment!

Dec 11 2008 (TRI)

M/S. R.S. Leather Exports Vs. Central Bank of India and Another

Court : DRAT Madras

..... this tribunal comes to the irresistible conclusion that section-69(2) of the partnership act clearly imposes a bar to initiate any proceedings to enforce the right under a contract entered into by the appellant firm, which is not a registered one on the one hand, and the respondent bank on the other. it follows necessarily that the reasoning ..... person suing is or has been shown in the register of firms as a partner in the firm. (2) no suit to enforce a right arising from a contract shall be instituted in any court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been ..... indian partnership act, 1932. section-69 of the partnership act reads as follows :- 69. effect of non-registration. (1) no suit to enforce a right arising from a contract or conferred by this act, shall be instituted in any court by or on behalf of any person suing as a partner in a firm against the firm or any ..... (a) the provisions of sub-sections (1) and (2) shall apply also to a claim of set-off or other proceeding to enforce a right arising from a contract. 9. it is no doubt true that the dispute between the appellant and the respondent bank arose on the basis of a ..... contract whereby the appellant availed credit facilities from the respondent bank and therefore, ld. counsel for the respondent has contended that in view of the dictum of law laid .....

Tag this Judgment!

Feb 16 2006 (TRI)

H.B. Jayaraj Vs. State Bank of Hyderabad and ors.

Court : DRAT Madras

Reported in : IV(2006)BC13

..... no longer subsisting and the entire matter was reopened and the bank having accepted the guarantee given by the state of karnataka, there is a deviation, novation of the original contract, and therefore the 3rd defendant, who was the original borrower, was not liable to pay any amount. under the deed of guarantee, the applicant bank agreed to recall the notices ..... whether 3rd defendant/appellant is absolved from the liability by virtue of the guarantee executed by the state of karnataka.7. contract of guarantee is defined under section 126 of the indian contract act, 1872, which states, "a 'contract of guarantee' is a contract to perform the promise, or discharge the liability, of a third person in case of his default." here the state .....

Tag this Judgment!

Dec 30 2005 (TRI)

N. Sanjeeva and anr. Vs. State Bank of Travancore

Court : DRAT Madras

Reported in : II(2006)BC158

..... including the liability of this defendant. the respondent-bank also entered into an agreement with the first defendant without any reference to this defendant which amounts to a novation of contract and thereby the liability of this defendant was relinquished and discharged. the defendant also denies execution of any revival letter, balance confirmation letter, as stated by the respondent-bank and ..... the first defendant after the dissolution of the partnership without the consent of the third defendant, he is discharged by the said variance of the new contract, irrespective of any agreement said to have been executed by the third defendant. as such, the third defendant is also not liable to pay any amount to the respondent-bank. ..... it is, therefore, contended that it is clear novation of the contract, which discharges the appellants from the liability. section 62 of the contract act deals with novation of contract, which states, "if the parties to a contract agree to substitute a new contract for it, or to rescind or alter it, the original contract need not be performed". the third defendant who stood as a ..... guarantor also stands discharged by variance in terms of the contract, as the said variance was done without his consent as provided under section 133 of the contract act which states, "any variance made without the surety's consent, in the terms of the contract between the principal debtor and the creditor, discharges the surely as to transactions subsequent .....

Tag this Judgment!

Oct 31 2005 (TRI)

U. Krishnan Vs. Syndicate Bank and ors.

Court : DRAT Madras

Reported in : I(2006)BC222

..... this defendant is a continuing guarantee and the revocation, if any, of such guarantee would hold good only in respect of future transaction as stated in section 130 of the contract act, and therefore, this point is answered against the appellant.10. the other point which has got to be answered is whether the claim is ' barred by time. a perusal ..... guarantee executed by the appellant is a continuing guarantee and that the liability of the guarantor is co-extensive with that of the principal debtor under section 128 of the contract act, 1872, the liability of the appellant is not barred by time. on that ground also, the plea of the appellant is liable to be rejected.

Tag this Judgment!

Sep 29 2005 (TRI)

Indian Bank Vs. Humera Mumtaz and ors.

Court : DRAT Madras

Reported in : I(2006)BC72

..... the guarantors are liable, there is no dispute about the same this clause in the agreement has got the legal sanction under section 129 of the indian contract act, 1872, which states, "a guarantee which extends to a series of transaction, is called a continuing guarantee." but the section does not say ..... acknowledgement made by the borrower would renew the liability of the guarantors, is outside the scope or the limitation act, 1963, as well as indian contract act, 1872.12. as far as the other contention raised by the appellant that the agreement of guarantee executed by defendants 3 and 4 is a ..... in the very nature of things will be unjust and unconscionable. this kind of danger is intended to be prevented or eliminated by section 23 of the contract act also, which reads, "the consideration or object of an agreement is lawful, unless. it is forbidden by law; or is of such nature, ..... was introduced only to meet their administrative convenience, which cannot be a law. such a clause in the agreement has no legal sanctity also.the indian contract act, 1872, does not approve any such acknowledgement nor the limitation act, 1963, admits such a position.for each and every borrowing or debts or ..... guarantee executed by 3rd and 4th defendants, they have consented to the bank for making any variance as the bank think fit in terms of the contract with the borrower including enlarging or varying the credit limits. under clause-9 of the agreement, they have further agreed that, "the guarantors also .....

Tag this Judgment!

Sep 08 2005 (TRI)

State Bank of India Vs. Regional General Manager, the

Court : DRAT Madras

Reported in : IV(2005)BC244

..... complied with except in case of obvious fraud of which the bank has notice. the existence of dispute between the parties and the primary contract or the possibility of a reference of these disputes to arbitration or the pendency of proceedings on such a reference have absolutely no relevance to the obligation of the bank ..... created by the document itself. once the documents are in order, the bank giving guarantee must honour the same and make payment without any demur. the guarantee is an autonomous contract and imposes an absolute obligation on the bank in its terms and the bank is bound to pay when called upon to do so as long as the terms are ..... guarantee is given effect to. in our case, the guarantee is unconditional and as a matter of fact, the bank had undertaken to honour the contract without any reference to the buyer. the solemn undertaking given by the bank cannot be breached. hence, i am unable to agree with the arguments advanced on behalf of the ..... v.vijaya kumar and ors., i 4. it is a well recognised principle of civil jurisprudence that a contract of guarantee by a bank in favour of the beneficiary is an independent contract in between the bank and the said beneficiary and the said contract can always be enforced by the beneficiary by invoking the bank guarantee at any time during the subsistence .....

Tag this Judgment!

Aug 29 2005 (TRI)

State Bank of Hyderabad Vs. M. Somasundaram

Court : DRAT Madras

Reported in : I(2006)BC62

..... mentioned in the sale deed and could not be by mere implication. the property was not sold subject to encumbrances and therefore in the absence of a contract to the contrary the vendor was under an obligation to discharge the encumbrances".8. the learned advocate for the respondent has further submitted that sub-clause (g ..... to indicate that the property was sold on a contract to the contrary as stated in section 55 or subject to any encumbrance.5. coming to the modes for recovery of the debts under rddb&fi act, ..... property upto the date of sale and the vendor is liable to pay those charges. the only exception is that if the property is sold on a contract to the contrary as stated in section 55, the seller is not liable to pay these amounts. but in the instant case, there is no material ..... proper conveyance of the property when the buyer tenders it to him for execution at a proper time and place; (e) between the date to the contract of sale and the delivery of the property, to take as much care of the property and all documents of title relating thereto which are in his possession ..... section 55 of the transfer of property act deals with the rights and liability of the buyer and seller which is as under- in the absence of a contract to the contrary, the buyer and the seller of immovable property respectively are subject to the liabilities, and have the rights, mentioned in the rules next following .....

Tag this Judgment!

Aug 11 2005 (TRI)

National Textile Corporation Vs. Syndicate Bank

Court : DRAT Madras

Reported in : I(2006)BC54

..... such, the argument advanced on behalf of the appellant cannot at all be countenanced and the appellant should have taken all care to ratify the contract of the respondent with the sick industry and for its failure or omission, the respondent bank cannot be made as a scape goat.therefore, i ..... 30 of the sick textile undertakings (nationalisation) act, 1974 (hereinafter called the 'act'). admittedly, the appellant had not chosen to refuse or ratify the contract entered into by the respondent with the 1st defendant mill and, therefore the appellant is liable to reimburse the respondent bank in respect of the said amount. ..... the said fact and passed order, which is not sustainable.6. on the contrary, the learned advocate for the respondent bank would contend that the contract made by the 1st defendant company with the japanese firm is binding on the 12th defendant viz., the appellant, and the said sum of rs. 2 ..... purchase of the machinery and with whom the undertaking came to be vested under the act, that it would be deemed to have ratified the contract but has not chosen to ratify the same in time, the appellant was liable to reimburse the respondent bank. the appellant, who was the ..... ground that it was a post-nationalisation liability.2. the respondent bank filed a suit in os- 1022/1988. sub-court, coimbatore, claiming that the contract given to the japanese company was binding upon the appellant herein viz., national textile corporation (12th defendant) and the said sum of rs. 2,87,785 .....

Tag this Judgment!

Aug 09 2005 (TRI)

State Bank of India Vs. Monarch Cyber Solutions Limited

Court : DRAT Madras

Reported in : IV(2005)BC204

..... general terms in section 128 of the act is no doubt co-extensive with that of the principal debtor, but this liability is also subject to the terms of the contract; because section 128 of the act itself specifically provides that the liability of a surety is co-extensive with that of the principal debtor unless it is otherwise provided by ..... the contract act. this is the view taken in the case of t. raju setty v. bank of baroda, , wherein, it was held that, "the liability of the surety as stated in ..... , the appellants contention is that the guarantors bind themselves in clause (7) of the agreement that the guarantors will not claim any benefit under sections 140 and 141 of the contract act and thereby waived their right. in such an event, it cannot be stated that the said waiver is also against the public policy as contemplated under section 23 or ..... faith or belief that the bank has taken and/or may hereafter take any or other such security and that notwithstanding the provisions of sections 140 and 141 of the contract act, 1872 or any other section of that act or any other law, the guarantors will not claim to be discharged to any extent." 7. pointing out this clause in .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //