Contract II PDF

LAW OF CONTRACT-II
ACADEMIC SESSION (JAN- MAY, 2020)
OBJECTIVE OF THE COURSE:
The primary goal of this course is to acquaint the students with the
basics of Special Contracts and enable them to grasp the nuances of the
contractual transactions involving these forms of contracts the law of sale
of goods and the law of partnership, negotiable instruments, government
contracts and infrastructure contracts and also at the recent developments
in the field of special contract. At the conclusion of this course students will
be able to analyze the implications of a contractual arrangement falling
under any of the discussed head of special contracts. They will be able to
determine the legality of the transactions and also the rights and duties of
the parties thereto. They will also be able to purposefully deal with the
disputes arising out of such contractual arrangements.
Module-I
Indemnity:
The concept, Definition of Indemnity, Nature and extent of liability of the
indemnifier, Commencement of liability of the indemnifier.
Guarantee:
The concept, Definition of guarantee: as distinguished from indemnity,
Basic essentials for a valid guarantee contract, Continuing guarantee,
Nature of surety's liability, Duration and termination of such liability, Rights
of surety, Position of surety in the eye of law, Various judicial
interpretations to protect the surety, Co-surety and manner of sharing
liabilities and rights, Extent of surety's liability, Discharge of surety's liability.
Module –II
Bailment:
Identification of bailment contracts in day today life, Manner of creation of
such contracts, Definition of Bailment, Creation and identification of
continuing guarantees, Duties of Bailor and Bailee towards each other,
Rights of bailor and bailee, Finder of goods as a bailee, Liability towards
the true owner, Obligation to keep the goods safe, Right to dispose off the
goods.
Pledge:
Comparison of Pledge with bailment, Commercial utility of pledge
transactions, Definition of pledge under the Indian contract Act, Rights of
the pawner and pawnee, Pownee's right of sale as compared to that of an
ordinary bailee.
Module-III
Agency:
Identification of different kinds of agency transactions in day to day life in
the commercial world, Kinds of agents and agencies, Distinction between
agent and servant, Essentials of a agency transaction, Various methods of
creation of agency, Delegation, Duties and rights of agent, Scope and
extent of agent's authority, Liability of the principal for acts of the agent
including misconduct and tort of the agent, Liability of the agent towards the
principal, Personal liability towards the parties, Methods of termination of
agency contract, Liability of the principal and agent before and after such
termination.
Module-IV
The Sale of Goods Act, 1932

Introduction, Formation of Contracts of Sale, Concept of Goods, Sale and
Agreement to sell, Conditions and Warranties, Representations:
Stipulations as to time; Implied Conditions and Warranties - as to title,
quality, fitness, etc., Sale by Description and by Sample; Treating
conditions as warranties, Doctrine of Caveat Emptor, Effects of the
Contract Risk and Passing of Property: Transfer of property; Doctrine of
Nemo dat quod non habet - sale by a person other than the owner, sale by
joint owner, sale by mercantile agent, sale under voidable contract, sale by
seller or buyer in possession after sale; sale in Market Overt. Performance
of the Contract, Duties of seller and buyer; Rules relating to delivery of
goods, Rights of Unpaid Seller, Defining Unpaid Seller, Un-paid Seller's
Rights - Right of lien, Right of stoppage in transit; Transfer of goods by
buyer and seller, Suit for Breach of Contract, Suit for price; non-delivery,
non-acceptance, damages for breach of conditions and warranties;
Repudiation of contract; Payment of damages and special damage.
Module-V
(Indian Partnership Act, 1932 and Limited Liability Partnership Act,

2008)
NATURE OF PARTNERSHIP: Definition of Partnership, Partner, Firm and

Firm Name Partnership not created by Status, Mode of determining
existence of partnership, Partnership at Will, Particular Partnership.
REGISTRATION OF FIRM: Application of Registration, Recording of
Alterations in Firm Name & Place of Business, Effects of Non-Registration.
RIGHTS AND DUTIES OF PARTNERS: Duties of Partners, Duty to
indemnify for loss caused by fraud, Determination of Rights and Duties of
Partners by Contract, Conduct.
of Business, Mutual Rights and Liabilities, Property of the Firm, Application
of the Property of the Firm, Personal Profits earned by partners, Rights and
Duties of Partners.
RELATION OF PARTNERS TO THIRD PARTIES: Partners to be agent of
firm, Implied Authority of Partner as agent of Firm, Extension and
Restriction of Implied Authority of Partners, Liability of Partners for acts of
Firm, Holding out, Minor as partner.
INCOMING AND OUTGOING PARTNERS (Rights and Liabilities):
Introduction of New Partner, Retirement of Partner, Expulsion of Partner,
Rights of outgoing partner to carry competing business.
DISSOLUTION OF A FIRM: Dissolution by Agreement, Compulsory
Dissolution, Dissolution on happening of certain contingencies, Dissolution
by notice of partnership at will, Dissolution by the Court, Sale of Goodwill
after Dissolution.
References:
1. Beatson (ed.), Ansons' Law of Contract, (1998), Oxford, London

2. R.K.Abhichandani (ed.), Pollock and Mulla on Contracts and Specific
Relief Acts (1999) Tripathi, Bombay
3. Avtar Singh, Contract Act (2000), Eastern, Lucknow
4. Krishnan Nair, Law of Contract,(1999) Orient Book Company
5. Avtar Singh, Principles of the Law of Sale of Goods and Hire Purchase
(1998), Eastern, Lucknow
6. J.P.Verma (ed.), Singh and Gupta, The Law of Partnership in India
(1999), Orient Law House, New Delhi.
7. A. G. Guest (ed.), Benjamin`s Sale of Goods (1992), Sweet & Maxwell.
8. Bhashyam and Adiga, The Negotiable Instruments Act (1995), Bharath,
Allahabad
9. M.S.Parthasarathy (ed.), J. S. Khergamvala, The Negotiable Instruments
Act
10. Saharay, H.K., Indian Partnership and Sale of Goods Act (2000),
Universal
11.Ramnainga, The Sales of Goods Act (1998), Universal
12.Sir Dinshaw Fardunji Mulla, The Sale of Goods and the Indian
Partnership Act, Lexis Nexis, 2012
13. Avtar Singh, Law of Partnership, EBC, Latest ed.
14. Pollock & Mulla, G.C. Bharuka(ed), The Indian Partnership Act ; Lexis
Nexis, 2007
15.V.P.Verma (Rev.) SD Singh and JP Gupta, Law of Partnership in India,
Latest ed.
16. Harpreet Kaur, Business and Corporate Laws, Lexis Nexis, 2013
17.P C Markanda, The Law of Partnership in India, Lexis Nexis, 2010
18.Sanjiv Agarwal and Rohini Aggarwal, Limited Liability Partnership: Law
and Practice, Lexis Nexis , 2009
*******

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LAW OF CONTRACT-II

ACADEMIC SESSION (JAN- MAY, 2020)

OBJECTIVE OF THE COURSE:

The Sale of Goods Act, 1932

(Indian Partnership Act, 1932 and Limited Liability Partnership Act,

NATURE OF PARTNERSHIP: Definition of Partnership, Partner, Firm and

1. Beatson (ed.), Ansons' Law of Contract, (1998), Oxford, London

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