Law of Contracts-II (Special Contract & Mercantile Law)
Jamia Millia Islamia · LL.B. Semester 2
Unit I — INDIAN CONTRACT ACT, 1872
Contract of Indemnity (ss. 124, 125): Definition and Conceptual Validity – By Specific Requirements, By General Principles of Contract-Nature & Extent of Indemnifier’s Liability (Rights of Indemnified) on Indemnified suing or being sued-Commencement of Indemnifier’s liability. · Contract of Guarantee (ss. 126- 147): Definitions and Conceptual Validity by Specific Requirements, By General Principle of Contract-Liability of Surety: Its Nature and Extent-Discharge of Surety from Liabilities: By Invalidation, By Revocation & By Conduct of Creditor-Rights of Surety: Against-(i) Principal Debtor (ii) Creditor and (iii) Co-Surety · Contract of Bailment (ss. 148- 171) & Pledge (ss. 172-179): Bailment: Definition and Conceptual Validity-Duties of Bailor and Bailee-Rights of Bailor and Bailee; Pledge (Pawn)-Definition and Conceptual Validity, Who can Pledge-Duties of Pledger (Pawner) and Pledgee (Pawnee)-Rights of Pledger (Pawner) and Pledgee (Pawnee).
Unit II — INDIAN CONTRACT ACT, 1872
Contract of Agency (ss. 182-189, 196-200, 201-210): Definition and Conceptual Validity-By Specific Requirements-By General Principles of Contract; Classes (Kinds) of Agents-Creation of Agency: By Express Agreement-By Implied Agreement of (i) Estoppel (ii) Holding Out (iii) Necessity by Ratification-Requirements & Effects. · Determination /Termination of Agency · Of Agency Transaction (ss. 211-238): Mutual Rights and Duties of Parties- Principal, Agent & Third Party-As Regards Relations between Principal and Agent-As Regards Relations between Principal and Third Party-As Regards ‘Personal Liabilities’ of Agent-Presumption of Contract to the Contrary
Unit III — SALE OF GOODS ACT, 1930
Of Nature, Formation & Terms of Contract of Sale of Goods (ss. 1-17): General (Ss. 4-10)-Generic Term Contract of Sale-Its Formalities and Essential- Its Species ‘Sale’ and ‘Agreement to Sell’ · Terms or Stipulations of Contract of Sale (ss. 11-13): Conditions & Warranties-Of Implied Term/Stipulations (ss. 14-17)-Implied Conditions- Implied Warranties
Unit IV — SALE OF GOODS ACT, 1930
Of the Effect of Contract of Sale (ss. 18-30): As to Transfer of Property between Seller and Buyer (ss. 18-25)-As to Passing of Risk (ss. 26)- As to the Transfer of Title by Seller having Defective Title (ss. 27-30) · Right of Unpaid Seller (ss. 45-54): As to Lien (ss. 47-49)-As to Stoppage in Transit (ss. 50-52)-As to Resale (s. 54) · Breach of Contract and its Remedies (ss. 55-57)
Unit V — INDIAN PARTNERSHIP ACT, 1932
Of Partnership, Its Nature & Concept: Definition & Essential and Duration of Partnership (ss. 4-8)- Partnership distinguished from (i) Joint-Stock Company (ii) Joint Family (iii) Co-ownership and Other Association- Right and Duties of Partner (ss. 9-17) · Liabilities towards Thirds Persons (ss. 18-30): Nature and Extent of the Liabilities of the Firm-Doctrine of ‘Holding Out’ Creating the Liability of a Non-Partner-Rights of Transferee of a Partner-Position of a ‘Minor’ admitted to the Benefit of Partnership · Of Registration (ss. 56-71) & Dissolution of Firms (ss. 39-55): Registration of Firm-Procedure for-Effect of Non-Registration-Dissolution of Firm-Modes of Dissolution and Consequential Effects