LAW OF CONTRACT – II

Unit I — UNIT – I

Contract of Indemnity – Documents/Agreements of Indemnity - Definition, Nature and Scope - Rights of indemnity holder – Commencement of the indemnifier‘s liability · Contract of Guarantee – Definition, Nature and Scope – Difference between contract of indemnity and Guarantee – Rights of surety – Discharge of Surety – Extent of Surety‘s liability – Co-surety. · Contract of Bailment – Definition – Kinds – Duties of Bailer and Bailee – Rights of Finder of goods as Bailee – Liability towards true owner – Rights to dispose off the goods. · Contract of pledge – Definition – Comparison with Bailment – Rights and duties of Pawnor and Pawnee

• Indemnity [Sections 123 — 125]
• Guarantee [Sections 126 — 147]

Unit II — UNIT – II

Agency: · Definition & Creation of Agency · Kinds of Agents & Distinction between Agent and Servant · Rights and Duties of Agent · Relation of Principal with third parties · Extent of Agents authority – Personal liability of Agent · Termination of Agency.

• Agency [Sections 182 — 238]

Unit III — UNIT – III

Indian Partnership Act : · Definition – Nature, Mode of determining the existence of Partnership · Registration of Firms · Relation of Partner to one another · Rights and duties of partner · Relation of partners with third parties; Joint and Several liability · Types of partners · Admission of partners – Retirement – Expulsion – Death - Dissolution of Firm. Salient Features of Limited Liability Partnership Act, 2008.

• 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]
• Extent and Limitation of Liability of Limited Liability Partnership and Partners [Sections 26 — 31]

Unit IV — UNIT – IV

Sale of Goods Act: · The Contract of sale · Conditions and Warranties · Passing of property · Transfer of title · Performance of the Contract · Rights of Unpaid Seller against goods · Remedies for Breach of Contract

• Difference between sale and Agreement to Sell Condition and Warranty
• Rules relating to passing of the property
• Significance of transfer of property
• Delivery of goods and its rules
• Unpaid Seller — Rights and Remedies Auction Sale

Unit V — UNIT – V

Government Contracts