Principal Contract - Law Dictionary Search Results
Home Dictionary Name: principal contract Page: 3Voyage charter-party, time charter party
Voyage charter-party, time charter party, it is a contract by which an entire ship or some principal part thereof is let to a merchant who is called the charterer, for the conveyance of goods on a determined voyage to one or more places, or until the expiration of a specified period; in the former case it is called a 'voyage charter-party', and in the latter a 'time charter-party', Union of India v. Gosalia Shipping (P) Ltd., (1978) 3 SCC 23 (29): AIR 1978 SC 1196....
Common
Common, a profit which a man has in the land of another; it derives its name from the community of interest which thence arises between the claimant and the owner of the soil, or between the claimant and other commoners entitled to the same right; all which parties are entitled to bring actions for injuries done to their respective interests, and that both as against strangers and against each other. It is called an incorporeal right, which lies in grant, as if originally commencing in some agreement between lords and tenants, for some valuable consideration which, by lapse of time, being formed into a prescription, continues, although there be no deed or instrument in writing which proves the original contract or agreement. It differs from a rent, principally in freedom of enjoyment on the one hand, and in freedom from obligation on the other; which the law expresses by the quaint antithesis that it lies not in render but in prender. It is also incidentally distinguished by its fruits...
Surety and guarantor
Surety and guarantor, are both answerable for debt, default, or miscarriage of another but liability of guarantor is, strictly speaking, secondary, and collateral, while that of surety is original, primary and direct. In case of suretyship there is but one contract; and surety is bound by the same agreement which binds his principal, while in case of guaranty there are two contracts and guarantor is bound by independent undertaking, Amulya Lal Choudhury v. Tripura Industrial Development Corporation, AIR 2007 Gau 113....
Contract of agency and contract of sale
Contract of agency and contract of sale, a contract of agency, differs essentially from a contract of sale inasmuch as an agent after taking delivery of the property does not sell it as his own property but sells the same as the property of the principal and under his instructions and directions. Furthermore, since the agent is not the owner of the goods, if any loss is suffered by the agent he is to be indemnified by the principal, Bhopal Sugar Industries Ltd. v. S.T.O, (1977) 3 SCC 147 (151). [Sate of Goods Act, 1930, s. 4]...
Contract
Contract, an agreement between competent parties, to do or to abstain from doing some act. For numerous other definitions, see Chalmers's Sale of Goods Act, App. II., where it is said that the 'disposition of the best modern writers appears to be to define ' contract ' as an agreement enforce-able at law,' but contended that this definition seems rather too narrow.Every contract is founded upon the mutual agree-ment of the parties; the other essentials are legality, capacity (depending on age, mental ability, sex and status) a mutual identity of consent (consensus ad idem), and form. When an agreement is stated either verbally or in writing it is usually called an express contract; when the agreement is matter of inference and deduction, it is called n implied contract. (See IMPLIED CONTRACT.)Contract, which provides that the price includes the cost of the goods, the freight and the insurance premium for the transit, Halsbury's Laws of England, Vol. 3(1), para 253, p. 210.Contracts may...
Contract for sale of land
Contract for sale of land. The incidents of a contract for sale of land re regulated partly by statute and partly by the practice of conveyancers. A contract for sale of land must be in writing, (English) L.P. Act, 1925, s. 40. See FRAUDS, STATUTE OF. If the contract is a simple, unconditional, or open contract for sale of land, it is implied that the vendor is to make a good title to the land for an estate in fee simple free from incumbrances, Hughes v. Parker, 8 M & W 344. He is under an obligation to show a good title (in ordinary circumstances for the thirty years preceding the date of contract, see ABSTRACT), and to prove that title by sufficient evidence. the expenses of showing the title, i.e., the abstract, falls on the vendor and so also the expenses of production of material documents in his possession or in that of his trustees an mortgagees. The expenses of production for verification of those which are not in such possession are to be borne by the purchaser, (English) L.P....
Subject to contract
Subject to contract, does not mean 'subject to the approval by the parties' solicitors of a formal contract. On the other hand, the expression 'subject to contract' has by now acquired definite ascertained legal meaning of subject to the execution by the parties of a formal contract', Wilson v. Balfour, (1929) 45 TLR 606.Means subject to preparation and execution of a formal contract with respect to the transaction taking place between the parties, Coope v. Ridout, (1921) 1 Ch 291.Means that the broker is not to be deemed to have performed his duty until a binding contract has been entered into, Raymond v. Wootan, (1931) 47 TLR 606.Means that the matter remains in negotiation until a formal contract is settled and formal contracts are exchanged, Keppel v. Wheeler, (1927) 1 KB 577.Means the parties to contract have locus penitentiae until formal contracts are exchanged, Musson v. Maxley, (1936) 1 All ER 64.Subject to contract. See as to the meaning of these words in contracts for sale o...
Contract for work or service contract for sale of goods
Contract for work or service contract for sale of goods, the primary difference between a 'contract for work or service' and a 'contract for sale of goods' is that in the former there is in the person performing work or rendering service no property in the thing produced as a whole notwithstanding that a part or even the whole of the materials used by him may have been his property. In the case of a contract for sale, the thing produced as a whole has individual existence as the sole property of the party who produced it, at some time before delivery, and the property therein passes only under the contract relating thereto in goods used in the performance of the contract is not sufficient: to constitute a sale there must be an agreement express or implied relating to the sale of goods and completion of the agreement by passing of title in the very goods contracted to be sold. C.S.T. v. Purshottam Premji, (1970) 2 SCC 287 (290)...
Hire purchase agreement and contract for sale
Hire purchase agreement and contract for sale, a contract of hire-purchase is properly speaking a contract of hire by which the hirer is granted an option to buy but is not, as under a contract of sale, under a legal obligation to do so. The contract of hire-purchase is one of the variations of the contract of bailment, but it is a modern development of commercial life, and the rules with regard to bailments, which were laid down before any contract of hire-purchase was contemplated, cannot be applied simpliciter, because such a contract has in it not only the element of bailment but also the element of sale, Instalment Supply Ltd. v. S.T.O., (1974) 4 SCC 739: AIR 1974 SC 1105....
Contract of service and contract for service
Contract of service and contract for service, a 'contract for service' implies a contract whereby one party undertakes to render services e.g. professional or technical services, to or for another in the performance of which he is not subject to detailed direction and control but exercises profes-sional or technical skill and uses his own know-ledge and discretion. (See: Oxford Companion to law, p. 1134). A 'contract of service, implies relationship of master an servant and involves an obligation to obey orders in the work to be performed and as to its mode and manner of performance. (See: Stroud's Judicial Dictionary, 5th Edn., p. 540, Indian Medical Assn. v. V.P. Shantha, (1985) 6 SCC 651 (674). (Consumer Protection Act, 1986)...
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