Difference between Indemnity and Guarantee
Indemnity and Guarantee Indemnity and Guarantee are a type of contingent contracts, which are governed by Indian Contract Act, 1872. Indemnity is a contract in which one party promises the…
List of Contents
- Distinction between Indemnity and Guarantee
- Right and Duties of Indemnifier and Discharge
- Rights and Duties of Bailor/Bailee, Lien, etc
- Definitions of Agent and Principal, Creation of Agency and its Termination
- Nature of Partnership Firm
- Rights and Duties of Partners inter se
- Incoming and Outgoing Partners, Position of Minor
- Dissolution and Consequences
- Definitions, Distinction between Sale and Agreement to Sale
- Conditions and Warranties
- Passing of Property
- Rights of Unpaid Seller and Remedies for Breach of Contract
- Definition and Kinds of Negotiable Instruments
- Holder and Holder-in-Due Course
- Material Alterations and Crossing of Cheque, etc.
- Dishonour of Negotiable Instruments
Rights and Duties of Indemnifier and Discharge
Rights and Duties of Indemnifier and Discharge: - The rights of the indemnity-holder are the duties of indemnifier, and duties of the indemnity-holder are the rights of the indemnifier. Discharge…
Rights and Duties of Bailor and Bailee, Lien
Who is Bailor? Meaning of Bailor: - A bailor is a person who temporarily gives the possession of goods or property but not the ownership under the bailment. The temporary…
Nature of the Partnership Firm
What is partnership firm? Meaning of Partnership firm: - When two or more people join hands to set up an enterprise or business and share its profits and losses, they…
Rights and Duties of Partners inter se
What is Partners inter se? Meaning of Partners inter se: - The phrase is used to distinguish rights or duties between two or more parties from their rights or duties…
Incoming Partners and Outgoing Partners
Who are Incoming Partners? Meaning of Incoming Partners: - Incoming Partners are the partners who are joining the partnership firm by contract or is added to the firm. The ‘incoming partners’…
Dissolution and Consequences
Dissolution of partners and dissolution of the partnership firm are two different concepts, as defined under section 39 of the Indian Partnership Act, 1932. The dissolution of partners means a change…
Condition and Warranty
Condition and warranty can be defined as stipulations, obligations or provisions directly associated with goods or services that buyers and sellers impose on each other. A requirement or event that…
Passing of Property
What is Passing of Property? Meaning of Passing of Property: - The literal meaning of the passing of property is the transfer of ownership at an agreed price. The passing…
Rights of Unpaid Seller and Remedies For Breach of Contract
Introduction In a contract, there is always a reciprocal promise which is defined under section 2(f) of Indian Contract Act. Even in the contract of sale, both buyer and seller…
Definition and Kinds of Negotiable Instrument
What is Negotiable Instrument? Meaning of Negotiable Instrument: - A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a…
Holder and Holder in Due Course
Introduction to Holder and Holder in Due Course The concept and definition of a holder and a holder in due course have been discussed in Section 8 and Section 9…
Material Alteration and Crossing of Cheque
What is material alteration? Meaning of Material alteration: - Material alteration means to make any change or alter some material parts of the instrument and try to make it a valid…
Dishonor of Negotiable Instrument
What is Negotiable Instrument? Meaning of Negotiable Instrument: - A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a…