Judgment Search Results Home > Cases Phrase: indian contract act 1872 section 141 suretys right to benefit of creditors securities Court: punjab and haryana Page 1 of about 4 results (0.065 seconds)

Karnail Singh Randhawa Vs. Jagir Kaur and ors.

Court : Punjab and Haryana

Reported in : (2008)149PLR519

..... of the plaintiffs. it may be useful to notice some of the relevant provisions of law. sections 42, 43, 128, 140 and 141 of the indian contract act, 1872 (hereinafter referred to as 'the act' are reproduced herein below:42. devolution of joint liabilities.- when two or more persons have made a joint promise, then, unless a contrary intention appears ..... that where the surety is made to discharge his liability, the debt of the principal debtor under a contract of guarantee, he is entitled to be indemnified by the principal debtor. in terms of section 140 of the act, surety who is made to perform or pay the debt on behalf of the principal debtor is entitled ..... by the contract, all such persons, during their joint lives, and, after the death of any of them, his representative jointly with the survivor or survivors, .....

Bansal Industries Vs. the Food Corporation of India and anr.

Court : Punjab and Haryana

Reported in : II(2007)BC73; (2005)140PLR858

..... i. shall, however, be entitled to recover the liquidated damages on account of administrative and other expenses suffered by it. apart from the above, as per section 74 of the indian contract act, 1872, no details were to be given of the administrative and other expenses incurred by the f.c.i.8. in view of the above, i find no infirmity in the ..... compensation not exceeding the amount so named or, as the case may be, the penalty stipulated for.'6. in terms of section 74 of the indian contract act, 1872 also the f.c.i. was not liable to prove the actual damages suffered by it and was entitled to the awarded amount in-terms of clause xx of the ..... reliance on the above clause. mr. gopi chand has also drawn my attention to section 74 of the indian contract act, 1872, which is also reproduced as under:-'74. compensation for breach of contract where penalty stipulated for.- when a contract has been broken, if a sum is named in the contract as the amount to be paid in case of such breach, or if the .....

Ganga Industries and ors. Vs. Food Corporation of India and ors.

Court : Punjab and Haryana

Reported in : IV(2005)BC404; (2005)140PLR567

..... shall, however, be entitled to recover the liquidated damages on account of administrative and other expenses suffered by it. apart from the above, as per section 74 of the indian contract act, 1872, no details were to be given of the administrative and other expenses incurred by the fci.8. in view of the above, i find no affirmity in the orders ..... compensation not exceeding the amount so named or, as the case may be, the penalty stipulated for.6. in terms of section 74 of the indian contract act, 1872 also the fci was not liable to prove the actual damages suffered by it and was entitled to the awarded amount in-terms of clause xx of the agreement ..... on the above clause, mr. gopi chand has also drawn my attention to section 74 of the indian contract act, 1872, which is also reproduced as under:-'74. compensation for breach of contract where penalty stipulated for.- when a contract has been broken, if a sum is named in the contract as the amount to be paid in case of such breach, or if the .....

Firm Hira Lal Girdhari Lal and anr. Vs. Baij Nath Hardial Khatri

Court : Punjab and Haryana

Reported in : AIR1960P& H450

..... be made at the creditor's place. this takes us to the law of contract which, as far as this country is concerned, is to be found in the indian contract act (ix of 1872). mr. sodhi is unable to point to any provision in the contract act to support his contention that, apart from any agreement between the parties, money ..... borrowed is to be paid back to the creditor at the creditor's place. there is no such rule contained in the contract act. it is said, ..... business. this rule embodies a rule of evidence based on common course of natural events and on human conduct in commercial transactions. there is nothing in the indian contract act or in any other statute to exclude its application or consideration in this country.courts are, however, not bound to draw a presumption in favour of creditor .....

Ajay Kumar and Others Vs. Jarnail Singh

Court : Punjab and Haryana

..... on the basis of the same would still stand good if the death was not in knowledge of the attorney holder. the relevant provisions of section 201 of the indian contract act, 1872 are as under:- 201 . termination of agency. an agency is terminated by the principal revoking his authority; or by the agent renouncing the business of kukreja ..... 15. it was the contention of the learned counsel for the appellants that the learned trial court has erred in ignoring the provisions of section 202 of the indian contract act, 1872 and has further submitted that the sale by ram lal gupta, attorney of dilbagh rai, assu kukreja ritu nath and samal bai stood good as he was not ..... still good, in the absence of knowledge of the death of principal to the attorney holder and further argument raised on the basis of section 202 of the indian contract act, 1872 to the effect that there was no express termination of the agency, therefore, the same cannot be terminated even by death, was also rejected on the ground .....

Punjab National Bank Ltd. Vs. R.B.L. Benarsi Das and Co.

Court : Punjab and Haryana

Reported in : AIR1960P& H590

..... and secured some interlocutory orders for safeguarding their interests.in this connection mr. sibal has also referred to illustrations (a) and (b) under s. 212 of the indian contract act. these illustrations, however, are not of much assistance, because the facts of both of them clearly show that the consequences which arose from the breaches there were direct. ..... the non-realization of the amount of the draft in question. it has been contended on behalf of the respondent that as provided in s. 214 of the indian contract act it was the duty of the punjab national bank, as an agent, in case of difficulty, to use all reasonable diligence in communicating with his client, ..... arise on the findings given by the court. besides, in that case, according to mr. sibal, instructions had been taken as laid down in s. 214 of the indian contract act. in the case of chowdhury t. c. and brothers, (air 1930 cal 10), too, according to the respondent, information had been given to the principal and, therefore .....

Grison Knitting Works Vs. Laxmi Commercial Bank Ltd. and ors.

Court : Punjab and Haryana

Reported in : AIR1960P& H98

..... pledged property, had consulted the pledgor who was agreeable to the transfer of the shares by the pledge, the question of notice under section 176 of the indian contract act does not arise, as the pledgor's consent to the proposed transfer is already obtained. on this consideration also the argument pressed on behalf of the defendants ..... learned counsel for the defendants says that this approach of the learned judges, on comparison of the language of section 176 and the previous section 107 of the indian contract act, is not correct, and in fact when the two sections are considered together, they support rather his argument. it has already been pointed out that the words ..... indian high court where the nature of the notice under section 176 might have been examined from this point of view. as the law relating to securing repayment of debt by pledging goods is both ancient and universal, i think it will not be inappropriate to seek light from other allied systems.(55) the contract act of 1872 .....

Gurdarshan Singh S/O. Dalip Singh and anr. Vs. Bishan Singh S/O. Uttam ...

Court : Punjab and Haryana

Reported in : AIR1963P& H49

..... impossibility. this doctrine is given statutory recognition in india and so far as we are concerned we can look primarily to the law as embodied in sections 32 and 56, indian contract act, 1872. it was so observed by fazal ali, i. in ganga saran v. firm ram charan, air 1952 sc 9. mukherjea, j. (as he then was) in air 1954 ..... consent of the landlords. the mortgage was set aside and the mortgagee was held entitled to sue for the mortgage money because of the provisions of section 65 of the indian contract act. mohan manucha v. manzoor ahmad khan, air 1943 pc 29, was another case of a mortgage which was found to be invalid and on this ground the mortgagee ..... doctrine of frustration applies to leases. it is quite clear that the english principles cannot be applied to this country, because a contract for the sale of land as well as a lease remain contracts covered by the indian contract act.10. in the present case it is also to be observed that the provisions of section 108(e) of the transfer of .....

State Bank of Patiala Vs. Northland Sugar Complex Ltd.

Court : Punjab and Haryana

Reported in : [2004]55SCL92(Punj& Har)

..... the bank against any account. as mentioned above, the applicant-bank has relied upon the terms of the agreement as well as section 171 of the indian contract act, 1872. section 171 of the indian contract act, 1872, is in two parts. the first part is in the absence of agreement to the contrary. the banker have a right to retain the security ..... , in view of the terms of the agreement as well as in terms of the general lien of the bank as provided under section 171 of the indian contract act, 1872.16. before adverting to the merits of the respective contentions of the parties, it will be beneficial to reproduce few terms of the agreement and that of ..... which come into his possession in the course of his dealings as a banker with his customers, unless there is a contract, express or implied, inconsistent with the lien. the second part of section 171 of the indian contract act, 1872, states that other than bankers, factors, wharfingers, attorneys of a high court and policy brokers, none else have .....

National Bank of Lahore Ltd. Vs. Sohan Lal Saigal and ors.

Court : Punjab and Haryana

Reported in : AIR1962P& H534

..... loss of the valuables said to have been placed by the plaintiffs in those lockers, could not be said to fall within the ambit of section 238 of the indian contract act, 1872, nor were they of such a nature as could be regarded to have been done in the course of his employment by the manager.now, there can be ..... when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them'. as has been pointed out in pollock and mulla's indian contract act (8th edition), it was the late mr. justice story's work on bailment and agency, which had acquired a classical reputation, which had been largely used in the ..... for the appellant has sought to assall the theory of a bailment being created in such circumstances on the ground that the definition of bailment given in the indian contract act would not justify the view that a relationship of bailor and bailee comes into existence between persons who take on rent a locker in a safe deposit vault .....