Special Contracts
Solapur University · LL.B. Semester 1 · CC-II
Unit 1 — Indemnity
1.1 The concept · 1.2 Need for Indemnity to facilitate commercial transactions · 1.3 Methods of creating Indemnity obligations · 1.4 Definition ofIndemnity · 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 · 1.9 Nature of indemnity clauses · 1.10 Indemnity in cases of international transactions · 1.11 Indemnity by governments during interstate transactions
Unit 2 — Guarantee
2.1 The concept · 2.2 Definition of Guarantee: as distinguished from, indemnity. · 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 · 2.5 Position of Minor and validity of guarantee when minor is the principal debtor, creditor or surety · 2.6 Continuing guarantee · 2.6.1 Nature of surety's liability · 2.6.2 Duration and termination of such liability · 2.7 Illustrative situations of existence of continuing guarantee · 2.7.1 Creation and Identification of continuing guarantees · 2.8 Letter of credit and bank guarantees as instances of guarantee transactions · 2.9 Rights of surety · 2.9.1 Position of surety in the eye of law · 2.9.2 Various judicial interpretations to protect the surety. · 2.10 Co-surety and manner of sharing liabilities and rights · 2.11 Extent of surety's liability · 2.12 Discharge of surety's liability
Unit 3 — Bailment
3.1 Identification of bailment contracts in day today life. · 3.1.1 Manner of Creation of such contracts · 3.2 Commercial Utility of Bailment contracts · 3.3 Definition of Bailment · 3.4 Kinds of Bailees · 3.5 Duties of Bailor and Bailee towards each other · 3.6 Rights of Bailor and Bailee · 3.7 Finder of Goods as a Bailee · 3.7.1 Liability towards the true owner · 3.7.2 Obligation to keep the goods safe · 3.7.3 Right to dispose of the goods
Unit 4 — Pledge
4.1 Pledge: Comparison with bailment · 4.2 Commercial utility of pledge transactions · 4.3 Definition of Pledge under the Indian Contract Act. · 4.4 Other Statutory Regulations (State & Centre) regarding pledge, Reasons for the same · 4.5 Rights of the Pawner and Pawnee. · 4.5.1 Pawnee's right of sale as compared to that of an ordinary Bailee. · 4.6 Pledge by certain specified persons mentioned in the Indian Contract Act
Unit 5 — Agency
5.1 Identification of different kinds of agency transactions in day-to-day life in the commercial world. · 5.2 Kinds of Agents and Agencies. · 5.3 Essentials of an agency transaction. · 5.4 Various methods of creation of agency. · 5.5 Delegation · 5.6 Duties and rights of Agent. · 5.7 Scope and extent of agent's authority. · 5.8 Liability of the principal for acts of the agent including misconduct and tort of the agent. · 5.9 Liability of the agent towards the principal · 5.10 Personal liability towards the parties. · 5.11 Methods of termination of agency contract · 5.11.1 Liability of the principal and agent before and after such termination.
Unit 6 — Sale of Goods
6.1 Concept of sale as a contract · 6.2 Illustrative instances of sale of goods and the nature of such contracts. · 6.3 Essentials of contract of sale · 6.4 Essential conditions in every contract of sale. · 6.5 Implied terms in contract of sale. · 6.6 TheRuleofcaveatemptorandtheexceptionstheretoundertheSaleofGoodsAct · 6.7 Changing concept of caveat emptor. · 6.8 Effect and meaning of implied warranties in a sale. · 6.9 Transfer of title and passing of risk · 6.10 Delivery of goods: Various rules regarding delivery of goods · 6.11 Unpaid Seller and his rights. · 6.12 Remedies for breach of contract
Unit 7 — Partnership
7.1 Nature of partnership: definition · 7.2 Distinct advantages and disadvantages vis-a-vis partnership and private limited company. · 7.3 Mutual relationship between partners · 7.4 Authority of partners. · 7.5 Admission of partners. · 7.6 Outgoing of partners · 7.7 Registration of partnership · 7.8 Dissolution of partnership
- Forms of business organization
- Factors taken into consideration for choice of organization
- 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
Unit 8 — Negotiable Instruments
8.1 The Concept · 8.2 Various kinds · 8.3 Essential requirement to make an instrument negotiable · 8.4 Competent parties for making negotiations. · 8.5 Acceptance of the instruments. · 8.6 Dishonour by non-acceptance and remedies available to the holder · 8.7 Holder and holder in due course: meaning, essential conditions rights and privileges of holder in course and endorsee from the holder in due course. · 8.8 Negotiation of the instrument · 8.9 Presentment of the instrument · 8.10 Cheques: Rules regarding payment of cheque. · 8.10.1 Liability of the collecting banker and paying banker. · 8.10.2. Dishonor of cheque and its effect. · 8.10.3 Discharge from liability. · 8.11 Kinds of Bills · 8.12 Evidence · 8.13 Special rules of evidence regarding negotiable instruments