This document discusses various types of contracts including contracts of indemnity, guarantee, bailment, pledge, and agency. It provides details on the essential elements and parties involved in each type of contract. For contracts of indemnity and guarantee, it outlines the promisor, promisee, essential elements, rights and differences between the two. For bailment and pledge, it defines each term and discusses the bailor, bailee, duties, rights and types. Finally, it examines agency relationships, how agencies are formed, terminated and the duties and rights of the principal and agent.
The slides discuss in detail the concept of Bailment, Pledge, and Hypothecation under the Indian Contract Act, 1878. Useful for Law Students and professionals.
this presentation explains important concepts/definitions of
PROPERTY, ITS KINDS, IMMOVABLE AND MOVABLE
PROPERTY, LAND, INSTRUMENT, ATTESTED,
REGISTERED, and ACTIONABLE CLAIMS
The slides discuss in detail the concept of Bailment, Pledge, and Hypothecation under the Indian Contract Act, 1878. Useful for Law Students and professionals.
this presentation explains important concepts/definitions of
PROPERTY, ITS KINDS, IMMOVABLE AND MOVABLE
PROPERTY, LAND, INSTRUMENT, ATTESTED,
REGISTERED, and ACTIONABLE CLAIMS
contract of guarantee is a legal agreement in which one party, known as the "surety" or "guarantor," agrees to take on the financial responsibility for the debts or obligations of another party, known as the "principal debtor," in case the principal debtor fails to fulfill their obligations. This concept is primarily governed by the Indian Contract Act, 1872, which defines and regulates contracts of guarantee.
Learning Outcome:
After completion of the lesson students will be able to -
a) comprehend the nature of misrepresentation in contracts
b) distinguish between representation and promise
c) describe the elements of misrepresentation
d) describe the elements of fraud
e) distinguish between misrepresentation and fraud
The ppt consists of meaning of the doctrine with example. A detailed understanding of the principle has been included along with many case laws. The essentials have been mentioned which will validate the act of parties.
Described about Indemnity,guarantee,rights and duties of Guarantor,surety,Contract of Bailment, kinds of Balment, Discharge of surety from Indian Contract Act 1872.
Specific performance of contract is subject matter of Specific relief Act 1963. These slides are summarized presentation to enable the students to understand the concept of specific relief
contract of guarantee is a legal agreement in which one party, known as the "surety" or "guarantor," agrees to take on the financial responsibility for the debts or obligations of another party, known as the "principal debtor," in case the principal debtor fails to fulfill their obligations. This concept is primarily governed by the Indian Contract Act, 1872, which defines and regulates contracts of guarantee.
Learning Outcome:
After completion of the lesson students will be able to -
a) comprehend the nature of misrepresentation in contracts
b) distinguish between representation and promise
c) describe the elements of misrepresentation
d) describe the elements of fraud
e) distinguish between misrepresentation and fraud
The ppt consists of meaning of the doctrine with example. A detailed understanding of the principle has been included along with many case laws. The essentials have been mentioned which will validate the act of parties.
Described about Indemnity,guarantee,rights and duties of Guarantor,surety,Contract of Bailment, kinds of Balment, Discharge of surety from Indian Contract Act 1872.
Specific performance of contract is subject matter of Specific relief Act 1963. These slides are summarized presentation to enable the students to understand the concept of specific relief
Creditor\'s Rights and Bankruptcy Issues in Real Estate Lawterigrasmussen
Discusses how creditors should deal with a recently filed case, the automatic stay, leasing, use and sale of assets, and nonbankruptcy remedies available to creditors, including receiverships, foreclosures, creditors\' bill, charging order, and assignments for the benefit of creditors
What Is Contract?, Formation of Indian Contract Act, Agreement,Offer or Proposal, TYPES OF OFFER, Acceptance, Capacity, Minors, Unsound Mind, Consideration, Consent, Legal Object, Void Agreement, Discharge of Contract, Remedies for breach of contracts, Contingent Contract, Contract of Indemnity, Essential elements of a contract of indemnity , RIGHTS OF INDEMNITY HOLDER, Contract of Guarantee, Essential elements of a contract of Guarantee, CONTRACT OF BAILMENT, Essential elements of a contract of Bailment, MODES OF DELIVERY
Rai University provides high quality education for MSc, Law, Mechanical Engineering, BBA, MSc, Computer Science, Microbiology, Hospital Management, Health Management and IT Engineering.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
2. Contract of Indemnity (Sec 124)
A contract of indemnity is a contract by
which one party promises to save the other from
loss caused to him by the conduct of promisor
himself, or by the conduct of any other person .
A Security against any anticipated loss
It depends on the happening of the loss
It may be express or implied from the circumstances of
case.
considered as general class of contingent contracts.
3. EX:-
A contracts to indemnify B from consequences of any
proceeding C may take against him in respect of sum of
money 1000Rs.
Indemnifier (Promisor)??
Indemnity Holder (Promisee)????
6. Contract of Guarantee
A Contract of guarantee is a contract to
perform promise , or discharge the liability of a
third person in case of his default.
Guarantee may be either oral or written, express
or implied.
To invoke guarantee contract “Default” is must.
Also known as contract of Suretyship.
Something done or promise made for benefit of
principal debtor is considered as CONSIDERATION.
7. Parties ????
(1)Principal debtor (2) creditor (3)Surety
Tripartite Agreement
Every contract of guarantee has three
agreements,
Between Creditor & Principal Debtor
Between Surety & the creditor
Between surety & the principal debtor
8. Essentials
Existence of debt which must be
recoverable.
Three parties in a contract of guarantee.
A promise to pay debt in case of default.
Consideration
Liability must be legally enforceable.
Must have all the essentials of a
contract.
Bank Guarantee???
9. Distinction
Two parties
Liability is primary
Dependant on
contingency
Only one contract
Objective is security
No right to sue third
party for loss suffered
Three parties
Liability is secondary
Existence of debt
Three contracts
Objective is Surety
Can sue the principal
debtor
Contract of Indemnity Contract of Guarantee
10. Discharge of surety
1. By revocation
2. By variance
3. By death of surety
4. Composition, Extension and promise not to sue
5. Discharge of principal debtor
6. By imparting surety’s remedy
7. By loss of security
8. By novation
9. By misrepresentation
10. On failure of consideration
11. Exceptions
Surety is not discharged for transaction prior to notice or
death
Entry of creditor with the third party to not to sue the
debtor.
Invalid Guarantees
1.Guarantee by misrepresentation
2.Guarantee by Concealment
3.Guarantee that co surety shall join
4.Essential elements are absent
12. Rights of surety
Right of subrogation
Right to benefit of creditor’s securities
Right to indemnity
Right of equality in case of Co sureties.
13. Bailment & Pledge
Bailment (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 off according to the directions of the person
delivering them.
Ex- A delivers his radio to B for repairs.
Bailor
Bailee
Custody of goods without possession can not be called as
bailment. Ex- A servant
14. Essentials
Contract
Delivery of goods and change of possession
For specific purpose
Movable goods
Return of specific goods
Kinds of Bailment
• Gratuitous bailment
•Bailment for reward and remuneration
•Pledge
15. Bailee
To take reasonable care of
the goods
Not to make unauthorized
use of goods
Not to mix the goods bailed
with his own goods
Return the goods bailed
Not to create adverse title
To return the goods with
accretion
Right to lien
Right against third party
Right to recover
damages from detect of
goods
Right to claim for extra
ordinary expenses
Duties Rights
16. Bailor
To disclose all the known
defects
To bear the extra
ordinary expenses of
bailment
To receive back the
goods
Bailor’s responsibility to
bailee
Avoidance of contract
Return of goods
Compensation from a
wrong does
Enforcement of rights
Duties Rights
17. Lien
A lien is a right of any person to retain that which
is in his possession belonging to another until certain demands
of a person in possession are satisfied.
Does not include right to sale.
Possession is essential to create a right of lien.
Lien may arise by
1.Statute 2. Express or implied 3. in ordinary course of dealings
Types of Lien
1. General Lien
2. Particular or Specific Lien
18. Pledge
The bailment of goods as security for payment
of a debt or performance of a promise is called
“Pledge". The bailor in this case is called the pawner
pledger. The bailee is called the “Pawnee”or pledgee.
Ex:- Bailment of jewellary is pledge.
Pledge is a kind of bailment.
Rules of bailment are applicable to pledge.
19. Essentials
The goods must be delivered as security for payment of
debt
There must be actual or constructive delivery.
Only movable goods can be pledge.
Transfer of possession is essential.
Difference
Lien is a personal right of retention and does not have right to
sale.
In pledge Sale on default is incident.
20. Rights
Rights of Pawnee
1. To retain performance of promise, interest on debt
2. To recover extra ordinary expenses
3. Right on pawnor’s default
Rights of Pawnor
1. Right of redemption
2. Preservation and maintenance
3. To receive back the goods
21. Pledge by non owner
Pledge by mercantile agent
Pledge by a person in possession of goods
under voidable contract
Pledge by a person with limited interest.
Pledge by co owner in sole possession
Pledge by seller or buyer in possession after
sale.
22. Law of Agency
Agent
is a person employed to do an act for another or to
represent another person while dealing with the third party.
Principal
The person for whom such act is done for whom
he is representing is called principal.
Who can be Agent & Principal???????????
Consideration is not required to appoint an agent.
Capacity to employ / to be employed as Agent.
23. How Agency is constituted?
Agency by Agreement (Express / Implied)
Agent by necessity
Where one is compelled to act an agent
without authority of other
Agency by estoppels or by holding out
No real authority it is created by estoppel
Agency by operation of law
Partnership is implied agency
Agency by ratification
Accepting a past act of an agent
24. Rules governing Ratification
Act must be done by person on behalf of another.
Act done without authority
Act done must have legal existence.
Ratification can be expressive or implied.
The act to be ratified must not be void ab initio.
Principal must be competent to ratify.
Ratification must be done within a reasonable time
It must be communicated.
It can be for whole contract
It should not put third party to damages.
25. Classification of Agents
Specific orParticularAgent
General Agent
Mercantile Agent
1. Broker
2. Commission Agent
3. Factor
4. Auctioneer
5. Del Creder Agent
Sub Agent
Co Agent
Substitute Agent
26. Termination of Agency
By Act of Parties
1. By Agreement
2. By Revocation
3. By renouncing
4. By performance
By Operation of Law
1. By Death or insanity
2. By insolvency of the principal
27. Duties & Liabilities of Agent
To conduct principal’s business
Conduct business with skill & diligence
To render proper accounts
To pay sums received for principal
To communicate with principal
On principal’s death or insanity
Not to deal in his own account
Use of information
Secret profits
Adverse title
28. Duties & Liabilities of Agent
(contd)
Not to delegate
Liable for acts of sub agents
For misrepresentation or fraud
To damages
For misconduct
29. Rights of Agent
Right of retainer
Right to claim remuneration
Right of Lien
Right to indemnity
Compensation
To do lawful things
In emergency
To appoint Substitute Agent
To renounce agency
Compensation for premature revocation
30. Duties & Liabilities of Principal
To indemnify agent
Compensate agent for injury caused
To pay remuneration and dues
Misrepresentation or fraud by agent
On contracts entered by agent with third
person
On notice given to agent
Where principal induces third persons to
believe that agents unauthorized acts were
authorized
31. Rights of principal
To repudiate contract
To claim benefit
To ratify or disown agent’s acts
To revoke agent’s authority
To claim loss or profit
32. Agent when personally liable?
Where the principal is a foreigner
Where Principal is undisclosed
Where principal is disclosed though cannot
sue
Agent makes himself Expressly liable
Agency coupled with interest
Personal Liability of an agent by custom
Where an Agent acts beyond his authority
Pretending Agent