Specific Contract
Mahatma Gandhi University · LL.B. Semester 3 · UL-11
Unit I
Contracts of Indemnity and Guarantee-essential features- distinction between Indemnity and Guarantee-rights and liabilities of the indemnifier and indemnified - Guarantee -specific guarantee and continuing guarantee --extent of surety’s liability- rights of surety against the creditor, principal debtor and co- sureties - discharge of surety from liability-liability of co-sureties.
Unit II
Contract of Bailment –essentials- types of bailment-duties and rights of bailor and bailee –Lien-particular and general– Finder of lost goods as a bailee -Pledge-rights and duties of parties-pledge by non-owner’s.
Unit III
Agency -essentials -kinds of agency – creation of agency – express and implied, by necessity-agency by ratification- essentials- rights, duties and liabilities of agents –sub-agent and substituted agent- liability of principal for act of agents – personal liability of agents-determination of agency.
Unit IV
Partnership –distinction from company, HUF& co-ownership- nature and creation – types of partnerships - mutual relationship of partners –implied authority of partners - rights and liabilities of partners- incoming and outgoing partners– minor as a partner- partnership property - dissolution of partnership – effects of non- registration of partnership- concept of limited liability partnership- registration formalities.
- 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]
- Incorporation of Limited Liability Partnership [Sections 11 — 21]
Unit V
Sale of goods – definition and essentials of a contract of sale– sale and agreement to sell-conditions and warranties – rule of caveat emptor – passing of property and risk –sale by non owners- principle of nemo dat quod non habet-delivery of goods- Unpaid seller –unpaid seller’s rights against goods and the buyer personally –buyer’s remedies against the seller.