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Specific Contracts

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Lectures by Dr. Tabrez Ahmad,

Lectures by Dr. Tabrez Ahmad,
Definition of Diffrent specific contracts as per Indian Contract Act 1872

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Specific Contracts Specific Contracts Presentation Transcript

  • Dr. Tabrez Ahmad Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 1
  • Quantum Meruit  ‘Quantum meruit’ means ‘as much as earned’. A contract may come to end by * breach of contract * contract becoming void or * Voidable contract avoided by party. In such case, if a party has executed part of contract, he is entitled to get a proportionate amount i.e. ‘as much as earned by him’. This is not by way of ‘damages’ or ‘compensation for loss’. - - The principle is that even when contract comes to a premature end, the party should get amount proportional to the work done/services provided/goods supplied by one party. One party should not get enriched at the cost of other.  Sec. 64- For Voidable Contract  Sec- 65- For Void Contract Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 2
  • Sec. 64. Consequences of rescission of voidable contract.-When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained in which he is promisor. The party rescinding a voidable contract shall, if he have received any benefit thereunder from another. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 3
  •  65.Obligation of person who has received advantage under void agreement, or contract that becomes void.- When an agreement is discovered to be void, or when a contract becomes void, any person who has received any advantage under such agreement or contract is bound to restore it, or to make compensation for it to the person from whom he received it.  (a) A pays B 1,000 rupees in consideration of B's promising to marry C, A's daughter. C is dead at the time of the promise. The agreement is void, but B must repay A the 1,000 rupees. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 4
  • Indemnity  Sec. 124."Contract of indemnity" defined.-A contract by which oneparty promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a " contract of indemnity".  Illustration A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum of200 rupees. This is a contract of indemnity. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 5
  • Rights of indemnityholder when sued Sec. 125. The promisee in a contract of indemnity, acting within the scope of his authority, is entitled to recover from the promisor- (1) all damages which he may be compelled to pay in any suit in respect of any matter to which the promise to indemnify applies (2) all costs which he may be compelled to pay in any such suit if, in bringing or defending it, he did not contravene the orders of the promisor, and acted as it would have been prudent for him to act in the absence of any contract of indemnity, or if the promisor authorized him to bring or defend the suit ; (3) all sums which he may have paid under the terms of any compromise of any such suit, if the compromise was not contrary to the orders of the promisor, and was one which it would have been prudent for the promisee to make in the absence of any contract of indemnity, or if the promisor authorized him to compromise the suit. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 6
  • Bailment" "bailor",and "bailee" defined.  Sec. 148." A " bailment " is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them. The person delivering the goods is called the "bailor". The person to whom they are delivered is called, the “ bailee ".  Explanation.-If a person already in possession of the goods of another contracts to hold them as a bailee, he thereby becomes the bailee, and the owner becomes the bailor of such goods, although they may not have been delivered by way of bailment. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 7
  • Bailments of Pledges  Sec. 172. "Pledge" "pawnor",and "pawnee" defined. "Pledge" "pawnor",and "pawnee" defined.-The bailment of goods as security for payment of a debt or performance of a promise is called " pledge ". The bailor is in this case called the " pawnor ".  The bailee is called the " pawnee". Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 8
  • AGENCY  Appointment and authority of agents Sec. 182. "Agent" and "principal" defined. An "agent" is a person employed to do any act for another or to represent another in dealings with third persons. The person for whom such act is done, or who is so represented, is called the " principal. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 9
  • Thanks we will continue……. Dr. Tabrez Ahmad, Associate Professor, Wednesday, September 16, 2009 KIIT Law School, KIIT University 10