Special Contract

Unit I — Indemnity

12.3 The Concept .2 Need for indemnity to facilitate commercial transactions. · 1.3 Methods of creating indemnity obligations · 1.4 Definition of Indemnity · 1.5 Nature and extent of liability of the indemnifier · 1.6 Commencement of liability of the indemnifier · 1.7 Situations of various types of indemnity creations. · 1.8 Documents / agreements of indemnity

• Indemnity [Sections 123 — 125]

Unit 2 — Guarantee

2.1 The Concept · 2.2 Definition of guarantee · 2.3 Basic essentials for a valid guarantee contract · 2.4 The place of consideration and the criteria for ascertaining the existence of consideration in guarantee contracts. · 12.3 Position of a minor and validity of guarantee when minor is the principal debtor, creditor or surety. · 2.6 Distinguished from Indemnity · 2.7 Continuing guarantee · 2.7.1 Nature of surety’s liability · 2.7.2 Duration and terminations of such liability · 2.7.3 Illustrative situations of existence of continuing guarantee. · 2.7.4 Creations and identifications of continuing guarantees. · 2.8 Rights of surety · 2.8.1 Position of surety in the eye of law · 2.8.2 Various judicial interpretations to protect the surety. · 2.9 Co-surety and manner of sharing liabilities and rights. · 2.10 Extent of surety’s liability · 2.11 Discharge of surety’s liability

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

Unit 3 — Bailment

3.1 The concept · 3.2 Definition of Bailment · 3.3 Identification of bailment contracts in day today life and Manner of creation of such contracts. · 3.4 Commercial utility of bailment contracts · 3.5 Kinds of bailees · 3.6 Duties of bailor and bailee · 3.7 Rights of bailor and bailee

• Bailment [Sections 148 — 181]

Unit 4 — Pledge

4.1 The Concept · 4.2 Commercial utility of pledge transactions · 4.3 Definition of pledge under the Indian Contract Act · 4.4 Comparison with bailment · 4.5 Rights of the pawner and pawnee · 4.6 Pawnee’s right of sale as compared to that of an ordinary bailee · 4.7 Pledge by certain specified persons mentioned in the Indian Contract Act.

• Bailment [Sections 148 — 181]

Unit 5 — Agency

5.1 The Concept – Agent & Principal · 5.2 Kinds of agents · 5.3 Essentials of an agency transaction · 5.4 Various methods of creation of agency · 5.5 Duties and rights of agents · 5.6 Scope and extent of Agent’s authority · 5.7 Liability of the principal for acts of the agents · 5.8 Liability of the agent towards the principal · 5.9 Personal liability towards the parties · 5.10 Methods of termination of agency contract

• Agency [Sections 182 — 238]

Unit 6 — Sale of Goods

6.1 Concept of sale as a contract · 6.2 Essentials of a contract of sale · 6.3 Essential conditions in every contract of sale · 6.4 Implied terms in contract of sale · 6.5 The rule of caveat emptor and the excepti00ons · 6.6 Effect and meaning of implied warranties in a sale. · 6.7 Transfer of title and passing of risk. · 6.8 Delivery of goods : various rules regarding delivery of goods · 6.9 Unpaid seller and his rights · 6.10 Remedies for breach of contract

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

Unit 7 — Partnership

7.1 Nature of partnership : Definition · 7.2 Mutual relationship between partners · 7.3 Incoming partner · 7.4 Outgoing partner · 7.5 Registration of Partnership · 7.6 Dissolution of Partnership

• Definition of Partnership & Essentials Kinds of Partnership Partnership Property
• Rights and Duties 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

Unit 8 — E- contracts

8.1 The concept – Certifying Authority, digital signature, electronic record, cyber Appellate tribunal · 8.2 Validity of Electronics Transactions · 8.2.1 Authentication of Electronic Records · 8.2.2 Legal recognition of Electronic records & digital signature · 8.2.3 Retention of electronic records · 8.3 Communication & Revocation of offer · 8.3.1 Attribution of electronic records · 8.3.2 Acknowledgement of receipt · 8.3.3 Time & Place of dispatch and receipt of electronic records.