Law of Special Contract
Guru Ghasidas Vishwavidyalaya · LL.B. Semester 3 · LAICTT3N
Unit I — Contract of Indemnity and Contract of Guarantee
Commercial necessity and significance of indemnity · Creation of indemnity obligations · Definition and essential elements of contract of indemnity · Nature and extent of indemnifier’s liability · Rights and duties of the indemnifier · Commencement of liability · Indemnity in cross-border transactions · Government indemnity in inter-state agreements
Unit II — Guarantee
Definition and essential elements · Distinction between guarantee and indemnity · Consideration in contracts of guarantee · Position of a minor as a party · Continuing guarantee · Nature and extent of surety’s liability · Letters of credit and bank guarantees · Rights and duties of the surety · Modes of discharge of surety’s liability · Rights and duties of the creditor · Termination of guarantee
Unit III — Bailment
Identification and relevance of bailment in daily life · Commercial importance of bailment contracts · Definition and kinds of bailment · Rights and duties of bailor and bailee · Finder of goods as a bailee
Unit IV — Pledge
Pledge: Definition and comparison with bailment · Commercial significance of pledge transactions · Rights and duties of pawnor and pawnee · Valid pledge by persons other than owners (mercantile agents, sellers in possession, etc.)
Unit V — Agency
Importance of agency in business transactions · Definition, nature, and kinds of agency · Distinction between agent and servant · Modes of creation of agency (express, implied, by ratification, by necessity) · Rights, duties, and liabilities of agents · Scope and extent of agent’s authority · Principal’s liability for acts, torts, and misconduct of agent · Agent’s personal liability to principal and third parties · Termination of agency
Unit VI — Sale of Goods
Concept and essentials of a valid contract of sale · Implied terms in contracts of sale · Distinction between conditions and warranties · Doctrine of Caveat Emptor and its evolving exceptions · Transfer of title and passing of risk · Modes of delivery of goods · Rights and duties of buyer and seller · Rights of an unpaid seller · Remedies for breach of contract
Unit VII — Partnership
Definition and nature of partnership · Mutual relationship between partners · Classification of partners · Authority of partners: express, implied, ostensible · Rights, duties, and liabilities of partners · Partnership property and its use · Admission, retirement, and expulsion of partners · Dissolution and consequences thereof · Registration of partnership firms · Limited Liability Partnership (LLP): Features and distinction from general partnership
- Definition of Partnership & Essentials Kinds of Partnership Partnership Property
- Rights and Duties of a Partner
- Implied Authority of a Partner
- Minor Admitted to the benefits of Partnership Incoming and Outgoing Partner Registration of Partnership Firm Dissolution of Partnership
- Public Notice in case of Partnership
- Nature of Limited Liability Partnership [Sections 2 — 10]
- Difference between Limited Liability Partnership incorporated under Limited Liability
Unit VIII — Landmark Case Studies
1. Gajanan Moreshwar vs. Moreshwar Madan , (1942) 44 Bom LR 703 · 2. Punjab National Bank Ltd. vs. Bikram Cotton Mills , 1970 SCR (2) · 3. Adamson vs. Jarvis , [1827] 4 Bingham 66 · 4. Chiranjilal vs. Naraini , (1919) 41 All 395 · 5. Union Bank of India vs. Avinash P. Bonsle , (1991) M.L.J. 1004 · 6. Bank of Bihar vs. Damodar Prasad , 1969 SCR (1) 620 · 7. State Bank of India vs. Indexport Registered , (1992) 2 SCR 1031 · 8. Anumati vs. Punjab National Bank , AIR 2005 SC 29 · 9. Om Shankar Biyani vs. Board of Trustees, Port of Calcutta , AIR 2002 SC 1217 · 10. R.D. Saxena vs. Balaram Prasad Sharma , AIR 2000 SC 2912 · 11. Cox vs. Hickman , (1860) 8 HLC 268 · 12. Duli Chand vs. CIT , AIR 1956 SC 354 · 13. Varley vs. Whipp , [1900] 1 QB 513 · 14. Rowland vs. Divall , [1923] 2 KB 500 · 15. Shital Kumar Saini vs. Satvir Singh , (2002) 3 CPJ 20 (NC)