Archive | Law

When a contract is broken by a party, there are several courses of action which the other party may pursue; (i) he can refuse further performance of the contract (ii) he can also resist a suit for specific performance…

Sec. 68-72 of the act deal with, what are called in English law “Quasi Contract ”, i.e. certain types of transaction in which, there being in fact no “contract ” between the parties, the law, by a special rule creates rights and…

“Damages” means the money compensation which Court awards to a party against whom a contract is broken, in order to make good of the loss caused to him by the breach. The fundamental principle underlying damages…

The rights of a bailee are the bailor is bound to make good to the bailee the loss which the latter may sustain by reason of the fact that the bailor had no right to make the bailment or receive back the goods or give directions respecting…

A pledge is defined by the (sec.172) as “A bailment of goods as security for the payment of a debt or performance of a promise.” The bailer is called the “pawnor” or “pledgor” and the bailee is called “Pawnee” or…

Bailment is defined by sec. 148 as “the delivery of goods by one person to another for some purpose, upon a contract that , when the purpose is accomplished, be returned or otherwise disposed of, according to…

A C.I.F. contract means a contract in which the price fixed between the parties includes cost, insurance and freight. This kind of contract is fairly common in trade and certain advantages over the ordinary kind of contract…

The unpaid seller of goods has, by law, two kinds of rights: (i) rights against the goods themselves and (ii) right against the buyer personally. The former are treated by secs. 45-54 of the Act; the latter by secs. 55 and 56 of the Act…

Under the well-known ruling of Privy Council in Mohari Bibi v. Dharmodas Ghose, it is now settled that as minor cannot be bound by a contract , a minor’s contract being void and not merely voidable. A minor, therefore, cannot…

The rights of the mortgagor are right of redemption, right of inspection, right to redeem separately, renewal of lease, Improvements etc…

The articles of association are the rules and regulations of a Company framed for the purpose of managing its affairs. They are distinguished from Memorandum in this that whereas the latter defines and formulates…

The mortgagee has the following rights, after the mortgage debt has become due: (1) to file a suit for foreclosure or sale of the mortgage property (sec.67). A suit to obtain a decree that the mortgagor shall be absolutely …

In order to affect a valid insurance a person must prove some kind of interest in the life sought to be insured. This interest is called insurable interest. A person has an insurable interest in the life of another where….

The terms Competent Authority, Cost of living index number and Employer are explained in the following manner…

It shall be the general function of the corporation to carry on life insurance business in or outside India. The corporation shall exercise its powers in such a manner as to secure that life insurance business is developed…

The following are the rights of the insurer like Right to avoid the policy, Right of entry and control over the property, Right of reinstatement, Right to subrogation etc..