Law of Contract 2 Handwritten Notes PDF

Description

Contract of Indemnity- Definition and Scope; Rights of indemnity-holder(Section 124-125) Contract of Guarantee-Definition and Scope; essential features; Comparison of contract of guarantee and indemnity; Continuing Guarantee; Extent of surety’s liability, Modes of Discharge of surety; Rights of surety against the creditor, principal debtor and co-sureties. (Sections 126-147).

Bailment-Definition and scope; Essential Features of bailment, Duties of Bailor and Duties of Bailee, Kinds of Bailee Banker, Factor, Wharfinger, Attomeys, Policy brokers and rights of Bailee. Finder of lost goods (Sections 148-171)

Pledge- definition and scope; Hypothecation and pledge; and mortgage, Pawner’s Right to redeem; rights of Pawnee, who can pledge- pledge by mercantile agent, Pledge by person in possession.

Agency- Definition and Scope; Essential features of agency; Kinds of agent; delegation of authority- sub- agent and substituted agent; modes of creation of agency; agency by ratification; revocation of authority; Agent’s duty to Principal and Principal’s duty to Agent; Effects of agency on contracts with third person: Personal liability of Agent; Termination of agency-revocation, renunciation (Sections 182-238).