Bare Act Search Results

Indian Contract Act, 1872 Section 223

Title: Agent to Be Indemnified Against Consequences of Acts Done in Good Faith

State: Central

Year: 1872

Where one person employs another to do an act, and the agent does the act in good faith, the employer is liable to indemnify the agent against the consequences of that act, though it cause an injury to the rights of third persons. Illustration (a) A, a decree-holder and entitled to execution of B's goods requires the officer of the Court to seize certain goods, representing them to be the goods of B. The officer seizes the goods, and is sued by C, the true owner of the goods. A is liable to indemnify the officer for the sum which he is compelled to pay to C, in consequence of obeying A's directions. (b) B, at the request of A, sells goods in the possession of A , but which A had no right to dispose of. B does not know this, and hands over the proceeds of the sale to A. Afterwards C, the true owner of the goods, sues B and recovers the value of the goods and costs. A is liable to indemnify B for what he has been compelled to pay to C and for B's own expenses.

Depositories Act, 1996 (22 of 1996) Section 16

Title: Depositories to Indemnify Loss in Certain Cases

State: Central

Year: 1996

(1) Without prejudice to the provisions of any other law for the time being in force, any loss caused to the beneficial owner due to the negligence of the depository or the participant, the depository shall indemnify such beneficial owner. (2) Where the loss due to the negligence of the participant under sub-section (1) is indemnified by the depository, the depository shall have the right to recover the same from such participant.

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Section 21A

Title: Guaranteeing of Credit Facilities and Indemnifying Credit Institutions

State: Central

Year: 1961

(1) The Corporation may guarantee credit facilities given by any credit institution and may also indemnify credit institutions in respect of credit facilities granted by them. (2) The Board may, for the purpose of guaranteeing credit facilities granted by credit institutions or indemnifying credit institutions, frame one or more schemes in such form and in such manner and containing such provisions as the Board may, from time to time, deem fit. (3) The Board may levy, on every credit institution availing itself of the guarantees or indemnities provided by the Corporation, a fee at such rate or rates as may, with the previous approval of the Reserve Bank, be notified by the Corporation to the credit institution from time to time and different rates may be notified for different categories of credit institutions, for different types of credit facilities, for different areas where the credit facilities are utilised, or for different categories of beneficiaries of the credit facilities. Explanation.-- "Credit facility" means any financial assistance, including a loan or advance, cash credit, overdraft, bills purchased or discounted, a term of instalment credit and any guarantee

Indian Partnership Act, 1932 Section 10

Title: Duty to Indemnify for Loss Caused by Fraud

State: Central

Year: 1932

Every partner shall indemnify the firm for any loss caused to it by his fraud in the conduct of the business of the firm.

Indian Contract Act, 1872 Section 145

Title: Implied Promise to Indemnify Surety

State: Central

Year: 1872

.....as well as the principal debt. (b) C lends B a sum of money, and A, at the request of B, accepts a bill of exchange drawn by B upon A to secure the amount. C, the holder of the bill, demands payment of it from A, and, on A's refusal to pay, sues him upon the bill. A, not having reasonable grounds for so doing, defends the suit, and has to pay the amount of the bill and costs. He can recover from B the amount of the bill, but not the sum paid for costs, as there was no real ground for defending the action. (c) A guarantees to C, to the extent of 2,000 rupees, payment for rice to be supplied by C to B. C supplies to B rice to a less amount than 2,000 rupees, but obtains from A payment of the sum of 2,000 rupees in respect of the rice supplied. A cannot recover from B more than the price of the rice actually supplied.

Indian Contract Act, 1872 Section 222

Title: Agent to Be Indemnified Against Consequences of Lawful Acts

State: Central

Year: 1872

The employer of an agent is bound to indemnify him against the consequences of all lawful acts done by such agent in exercise of the authority conferred upon him. Illustration (a) B, at Singapore, under instructions from A of Calcutta, contracts with C to deliver certain goods to him. A does not send the goods to B, and C sues B for breach of contract. B informs A of the suit, and A authorizes him to defend the suit. B defends the suit, and is compelled to pay damages and costs, and incurs expenses. A is liable to B for such damages, costs and expenses. (b) B, a broker at Calcutta, by the orders of A, a merchant there, contracts with C for the purchase of 10 casks of oil for A. Afterwards A refuses to receive the oil, and C sues B. B informs A, who repudiates the contract altogether. B defends, but unsuccessfully, and has to pay damages and costs and incurs expenses. A is liable to B for such damages, costs and expenses.

Indian Contract Act, 1872 Chapter 10

Title: Agency

State: Central

Year: 1872

.....of the loan. Section 198 - Knowledge requisite for valid ratification No valid ratification can be made by a person whose knowledge of the facts of the case is materially defective. Section 199 - Effect of ratifying unauthorized act forming part of a transaction A person ratifying any unauthorized act done on his behalf ratifies the whole of the transaction of which such act formed a part. Section 200 - Ratification of unauthorized act cannot injure third person An act done by one person on behalf of another, without such other person's authority, which, if done with authority, would have the effect of subjecting a third person to damages, or of terminating any right or interest of a third person, cannot, by ratification, be made to have such effect. Illustration (a) A, not being authorized thereto by B, demands, on behalf of B, the delivery of a chattel, the property of B, from C, who is in possession of it. This demand cannot be ratified by B, so as to make C liable for damages for his refusal to deliver. (b) A holds a lease from B, terminable on three months' notice. C, an unauthorized person, gives notice of termination to A. The notice cannot be.....

Companies Act, 1956 Complete Act

State: Central

Year: 1956

.....the same activity as that carried on by the head office of the company; or (c) any establishment engaged in any production, processing or manufacture, but does not include any establishment specified in any order made by the Central Government under (section 8);] (10) "company" means a company as defined in (section 3); [(10A) "Company Law Board" means the Board of Company Law Administration constituted under (section 10E);] [(11) "the Court" means,- (a) with respect to any matter relating to a company (other than any offence against this Act), the Court having jurisdiction under this Act with respect to that matter relating to that company, as provided in (section 10) ; (b) with respect to any offence against this Act, the Court of a Magistrate of the First Class or, as the case may be, a Presidency Magistrate, having jurisdiction to try such offence ;] (12) "debenture" includes debenture stock, bonds and any other securities of a company, whether constituting a charge on the assets of the company or not; [(12A) "depository" has the same meaning as in the (Depositories Act, 1996) (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of (S.2.....

Contract Act, 1872 Complete Act

State: Central

Year: 1872

..... (3) by the failure of the acceptor to fulfil a condition precedent to acceptance; or (4) by the death or insanity of the proposer, if the fact of the death or insanity comes to the knowledge of the acceptor before acceptance. SECTION 07: ACCEPTANCE MUST BE ABSOLUTE In order to convert a proposal into a promise, the acceptance must- (1) be absolute and unqualified ; (2) be expressed in some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted. If the proposal prescribes a manner in which it is to be accepted, and the acceptance is not made in such a manner, the proposer may, within a reasonable time after the acceptance is communicated to him, insist that his proposal shall be accepted in the prescribed mariner, and not otherwise; but if he fails to do so, he accepts the acceptance. SECTION 08: ACCEPTANCE BY PERFORMING CONDITIONS, OR RECEIVING CONSIDERATION. Performance of the conditions of a proposal, or the acceptance of any consideration for a reciprocal promise which may be offered with a proposal, is an acceptance of the proposal. SECTION 09: PROMISES, EXPRESS OR IMPLIED. Insofar as the proposal or.....

Calcutta Police Act, 1866 Complete Act

State: West Bengal

Year: 1866

.....entering or remaining in or on building, land, vehicle, etc 3838. Sec. 29 subs. for the original Sec. by Ben. Act 3 of 1910. Whoever without satisfactory excuse, wilfully enters or remains in or upon any dwelling-house or private premises or any land or ground attached thereto, or any ground, building, monument or structure belonging to 3939. Subs. by the Government of India (Adaptation of Indian Laws) Order, 1937 and the Adaptation of Laws Order, 1950. [Government] or appropriated to public purposes, or any vehicle, boat or vessel, shall, whether he cause, any actual damage or not, be liable to fine which may extend to twenty rupees. Section 30 Order of maintenance for wife or child; restoration of woman or child detained for unlawful purpose Rep. by Act 4 of 1877. Section 31 Order of maintenance for wife or child; restoration of woman or child detained for unlawful purpose Rep. by Act 4 of 1877. Section 32 Apprehension and punishment of reputed thieves, etc Any person found between sunset and sunrise armed with any dangerous or offensive instrument whatsoever, with intent to commit any criminal act; any reputed thief found between sunset and sunrise on board any vessel.....