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Home > Webstore > Business Law > Mercantile Law > General > 10th Edition, 2014
Business Law (Formerly Mercantile Law)
by Dr. Avtar Singh
Edition: 10th Edition, 2014
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Product Details:
Format: Paperback
Pages: 1064 pages
Publisher: Eastern Book Company
Language: english
ISBN: 9789351450726
Dimensions: 24.2 CM X 6.03 CM X 16 CM
Shipping Weight: 1.27604
Publisher Code: AC/072
Overview:

Business Law (formerly known as Mercantile Law) by Dr. Avtar Singh has long been on the list of recommended books.

The new 9th Edition of the work has now been expanded to include six new subjects. All recent amendments have been incorporated in the Acts covered in the book.

Business laws covered in the 9th Edition

  • Contract Act, 1872;
  • Companies Act, 1956;
  • Negotiable Instruments Act, 1881;
  • Partnership Act, 1932;
  • Sale of Goods Act, 1932;
  • Consumer Protection Act, 1986; and
  • Monopolies and Restrictive Trade Practices Act, 1969

New Statutes added:

  • Limited Liability Partnership Act, 2008;
  • Trade Marks Act, 1999;
  • Copyright Act, 1957;
  • Designs Act, 2000;
  • Patents Act, 1970; and
  • Geographical Indications Act, 1999

Copious references to Indian and English cases have been made to give the law as interpreted and developed through the Courts. Detailed contents, table of cases and an elaborate subject index enhance the utility of the work.

This scholarly work explains the law in an easy to understand style using very simple language and expression. It will be immensely useful for students, researchers, academicians, lawyers, and judges.

  • "The book has long been on the list of recommended books for the use of students of law and commerce and students of Masters of Business Administration, Chartered Accountancy, Company Secretaryship etc. This book is also indispensable to practising lawyers and professionals dealing with the subject."
    —Kerala Law Times
  • "The refreshing quality of clarity and simplicity of language, the logical arrangement of the topics and treatment and the comprehensives of the case materials remain the hallmark of the work."
    —The Economic Times
  • "...when it was first published in 1973, almost drove out of circulation all other books on the subject. Since then the book has become almost indispensable..."
    The Administrator, National Academy of Administration, Mussorie
  • "A standard text book for students of various disciplines; a dependable handbook for teachers; an easy-to-understand guide for businessmen and professionals."
    Kerala University Journal of Legal Studies
  • "...recommended for corporates, advocates and other professionals and also for students undergoing professional courses."
    Chartered Secretary
  • "...is highly informative and is well written in a highly readable form.
    —Academy Law Review

Table Of Contents:
                   TABLE OF CASES LV
                   TABLE OF STATUTES CXLIII
PART I : CONTRACT ACT, 1872
Agreement, Contract, Proposal and Acceptance
                   Definition of Contract 1
                       Agreement 1
                       Enforceable by law 1
                       Scope 1
                   Proposal or Offer 2
                       Communication of proposal 2
                           Implied proposals 2
                   Intention to Contract 5
                       Family and social matters 6
                       Objective test of ''intention'' 7
                       Business matters 7
                   General Offers 9
                       Proposals acceptable by conduct 10
                       General offer of continuing nature 10
                   Offer and Invitation to Treat 11
                       Catalogues and display of goods 12
                       Announcement to hold auction 13
                   Standard form contracts 13
                       Reasonable notice of terms 14
                           Difference between contractual documents and receipts etc 15
                           Contracts signed by acceptor 16
                           Notice of unusual terms 17
                       Notice should be contemporaneous with contract 18
                       Theory of fundamental breach 19
                           Statutory definition of fundamental breach 22
                       Strict construction 23
                           Provision for review or variation of terms 25
                       Liability in tort 25
                       Unreasonable or unfair terms 25
                           Power of removal simpliciter in contract of employment 27
                           Statutory power to exclude unreasonable terms 27
                           Fairness in Government contracts 27
                       Exemption clauses and third parties 28
                           The [English] Unfair Contract Terms Act, 1977 29
                   Acceptance 30
                       Communication of acceptance 31
                           By external manifestation or overt act 31
                           Acceptance by conduct 31
                           Acceptance to be signified to offeror 32
                           Acceptance to be signified by acceptor 33
                           When communication is not necessary 33
                       Mode of communication 34
                           Acceptance should be in prescribed manner 34
                           Where no manner is prescribed 35
                       When is contract concluded ? 35
                           Communication complete when posted 35
                           Difference between English and Indian laws 37
                           When parties in direct communication 37
                           Supreme Court approval of Entores ruling 38
                       Absolute and unconditional 38
                           Counter proposals 39
                           Partial acceptance 39
                           Inquiry into terms of proposal 40
                           Acceptance of Counter-proposal 40
                           Provisional Acceptance 40
                           Provisional or Tentative Arrangements 41
                       Acceptance and withdrawal of tenders 42
                           No obligation to accept lowest tender 43
                           Liability for Failure to Consider tender 43
                           Refund of Earnest Money 44
                           Cancellation of auction 44
                           Renegotiations with Tenderers 44
                       Lapse of Offer 44
                           Notice of revocation 44
                               Revocation of time-bound proposals 46
                               Communication of revocation to be from proposer 47
                               Withdrawal of general proposals 47
                               Revocation of a bid 47
                           Lapse of time 48
                           By failure to accept condition precedent 49
                           By death or insanity of offeror 49
                       Revocation of Acceptance 49
Consideration
                   Definition 51
                       At the desire of the promisor (Promissory estoppel) 52
                           Act done at request 52
                       Promises of charitable nature 53
                           Unilateral agreements 54
                           Revocation of unilateral promises 54
                           Promissory Estoppel and Government Agencies 55
                   Privity of contract and of consideration 55
                       Promisee or any other person 55
                           Position of non-party Beneficiary 56
                           Fundamental propositions of English law 56
                       Privity of consideration 57
                       Privity of contract 57
                           Position in India 58
                           Supreme Court upholds ''Privity Rule'' 59
                       Exceptions to ''Privity Rule'' 60
                           Beneficiaries under trust or charge or other arrangements 60
                           Marriage settlement, partition or other family arrangements 61
                           Acknowledgement or estoppel 62
                           Covenants running with land 62
                   ''Has done or abstained from doing'' 62
                       Past consideration 62
                       Past act at request good consideration 63
                       Position in India as to past services 63
                           Past voluntary service 63
                           Past service at request 64
                               Past and executed consideration 64
                               Executory consideration 64
                   Such Act, Abstinence or Promise is called Consideration 65
                       Consideration must be of some value 65
                           But need not be adequate 66
                           Inadequacy as evidence of imposition 66
                       Forbearance to sue 67
                       Performance of existing duties 68
                           Performance of legal obligations 68
                       Performance of contractual obligations 69
                       Pre-existing contract with promisor 69
                       Promise to pay less than amount due 70
                           Part-payment by third party 71
                           Composition 71
                           Payment before time 71
                           Promissory estoppel 71
                   Pre-existing contract with third party 74
                       Exceptions to consideration 75
                           Contracts under Seal 75
                           Exceptions under S 25 75
                               Natural love and affection 76
                               Past voluntary service 77
                               Time-barred debt 77
                                     Gift Actually Made [S. 25 (Expl 1)] 78
                                     Inadequacy of consideration [S. 25 (Expl II) nbsp; 78
Capacity to Contract
                   Minor 79
                       Age of majority 79
                       Nature of minor's agreement 79
                       Effects of minor's agreement 80
                           No estoppel against minor 80
                           No liability in contract or in tort arising out of contract 80
                           Doctrine of restitution 81
                               Relief under Specific Relief Act, 1963 83
                       Beneficial contracts 84
                           Contracts of Marriage 86
                           Contracts of Apprenticeship 86
                           Ordinary trade contracts not included in beneficial contracts 86
                           Option to retire from beneficial contracts on majority 87
                       Ratification 87
                       Liability for necessaries [S. 68] 88
                           Meaning of necessaries 88
                           Nature of liability 89
                   Persons of unsound mind 90
Free Consent
                       Factors vitiating consent 92
                   Coercion 92
                       Acts forbidden by Indian Penal Code 93
                       Detention of property 93
                   Undue influence 93
                       Ability to dominate will of other 94
                       Relations of dominion over other 94
                           Real or apparent authority 95
                           Fiduciary relation 95
                           Mental distress 96
                           Influence distinguished from Persuasion 97
                       Burden of proof 97
                       Presumption of undue influence 97
                           Unconscionable bargains 98
                           Inequality of bargaining power or economic duress 100
                           Contracts with pardanashin women 102
                       Rescission [S. 19-A] 103
                   Misrepresentation [S. 18] 104
                       Unwarranted statements 104
                       Breach of duty 105
                       Inducing mistake about subject-matter 106
                       Suppression of vital facts 106
                       Material facts 106
                       Expression of opinion 107
                       Representation of state of mind 107
                       Change of circumstances 108
                       Inducement 108
                       Means of discovering truth with ordinary diligence 109
                   Fraud 109
                       Assertation of facts without belief in their truth [S. 17(1)] 110
                       Active concealment [S. 17(2)] 110
                           Concealment by mere silence is no fraud 110
                           When silence is fraud 111
                               Duty to Speak 111
                               Where Silence is Deceptive 111
                               Change of Circumstances 111
                               Half truths 112
                       Promise made without intention of performing [S. 17(3)] 112
                       Any other act fitted to deceive [S. 17(4)] 112
                       Any act or omission specially declared to be fraudulent [S. 17(5)] 112
                       Distinction between Fraud and Misrepresentation 113
                       Right of rescission and its limits [S. 19] 113
                           By affirmation 114
                           By lapse of time 114
                           Rights of third parties 115
                       Method of rescinding contract [S. 66] 115
                           Restitution 115
                       Damages for innocent misrepresentation 116
                   Mistake 117
                       Definition of consent 117
                       Definition of mistake 117
                           Supplementary provisions 118
                           What constitutes an essential Fact 118
                       Mistake as to identity 118
                           Assumption of false Name 118
                           Mistake caused by takeover of Business 119
                           Mistake of identity caused by Fraud 119
                           Where identity is specially important 121
                       Mistake as to subject-matter 122
                           Non-existent subject-matter 122
                           Mistake as to title or Rights 122
                           Different subject-matters in Mind 123
                           Mistake as to substance of subject-matter 124
                               Mistake as to quality of subject-matter 125
                               Misapprehension as to parties' respective rights 126
                       Mistake as to nature of promise 127
                           Where contract fails to express parties' intention 128
                           Documents mistakenly signed or non est factum 129
                       Limitations 131
                           Mistake of both parties 131
                           Erroneous opinion 132
                           Mistake of fact and not of law 133
Legality of Object
                   Unlawful Agreements 134
                       Forbidden by law 135
                       Defeat any law 137
                       Fraudulent 138
                       Injurious to person or property 139
                       Immoral 140
                           Dealings with sex workers 140
                           Illegal cohabitation 140
                           Dancing girls 141
                           Public policy 141
                       Alienation of Land by Member of Depressed Class 143
                           Heads of public policy 143
                           Trading with enemy 143
                               Trafficking in public offices 143
                               Interference with administration of justice 144
                               Marriage brokerage contracts 146
                               Unfair or unreasonable dealings 147
                   Void Agreements 147
                       Agreements unlawful in part [S. 24] 148
                       Agreements without consideration [S. 25] 149
                       Restraint of marriage [S. 26] 149
                       Restraint of trade [S. 27] 149
                           Profession, trade or business 151
                           Collusion between bidders and tenderers 151
                           Prolonged restrictions 152
                           Freedom of press 152
                           Restrictions in lease 153
                       Exceptions 153
                       Statutory exceptions 153
                           Sale of goodwill 153
                           Partnership Act 154
                       Under judicial interpretation 154
                           Trade combinations 154
                           Solus or exclusive dealing agreements 155
                               Restraints upon employees 158
                       Protection of trade secrets 159
                           Restraint of legal proceedings [S. 28] 161
                           Enforcement of contractual rights not to be restrained 161
                           Limitation of Time 161
                           Effect of amendment 162
                           Forfeiture and surrender of rights 163
                           ''Absolutely'' : Partial restriction as to jurisdiction 164
                           Special notice of serious terms as to jurisdiction necessary 165
                       Exceptions 165
                           Reference of future disputes to arbitration 165
                           Reference of existing questions to arbitration 166
                       Uncertain agreements [S. 29] 166
                           Agreement to agree or negotiate 167
                           Preliminary negotiations taking definite shape 167
                           Partial uncertainty : ''Capable of being made certain'' 168
                               Lock-out agreement 169
                               Option for renewal of tenancy 169
                       Wagering Agreements [S. 30] 169
                           Definition of ''wager'' 170
                               Uncertain event 170
                               Mutual chances of gain or loss 170
                               Neither party to have control over the event 171
                               No other interest in the event 171
                           Speculative transactions 171
                       Effects of wagering transactions 172
                           Collateral transactions 173
                       Exceptions 173
                           Horse-race 173
                           Crossword competitions 173
                   Illegal and void agreements 173
                       Exceptions 174
                           Where the contract is still executory 174
                           Parties not 'in pari delicto' 175
                           Where recovery possible without relying on illegal contract 176
                           Collateral transactions 177
                           Severance 177
Discharge of Contract
                       Modes of discharge 179
                   Discharge by Performance 179
                       Performance of contingent contracts 179
                           Where enforcement depends upon the happening of an event
                           [S. 32] 181
                           When performance depends upon the non-happening of
                           an event [S. 33] 182
                           Event linked with human conduct [S. 34] 182
                       Parties' duty to perform or offer to perform 183
                       Tender of performance 184
                           Tender must be unconditional [S. 38(1)] 184
                           Proper time and place and ability to do the whole
                           [S. 38(2)] 185
                       By whom contract should be performed [S. 40] 185
                       Performance of joint promises [Ss. 42-45] 186
                       Joint promisees [S. 45] 188
                       Time and place for performance [Ss. 46-50] 188
                       Performance of reciprocal promises [Ss. 51-54] 191
                           Effect of one party's default 192
                       Time for performance [S. 55] 194
                           Factors which make time of essence 194
                           Time is of essence in commercial transactions 195
                           Construction contracts 195
                           Sale transactions 195
                           Time for reporting 196
                           Right to seek extension of time 196
                           Land and property dealings 197
                           Sale of shares 197
                           Non-commercial matters 198
                           Consequences of failure 198
                           Impossibility of Performance and Frustration 198
                           Initial impossibility [S. 56] 198
                   Subsequent impossibility [S. 56] 199
                       Loss of object or frustration 200
                       Commercial hardship 201
                           Specific grounds of frustration 203
                           Destruction of subject-matter 203
                       Change of circumstances 204
                               Escalation 205
                               Foreknown chances of alteration 205
                           Non-occurrence of contemplated event 206
                           Death or incapacity of party 206
                               Application to industrial relations 207
                           Government or legislative intervention 207
                           Intervention of war 209
                           Application to Leases 210
                       Theories of frustration 212
                           Theory of implied term 212
                           Just and reasonable solution 213
                       Effects of frustration 213
                           Frustration should not be self-induced 213
                           Frustration operates automatically 214
                           Adjustment of rights (restitution) 215
                               Discovered to be void 216
                               Quantum meruit claims 217
                               Becomes void 218
                           English law 218
                   Appropriation of Payments 219
                       Appropriation by debtor 219
                       Appropriation by creditor 220
                       Appropriation by law 220
                   Discharge by Agreement 221
                       Contracts which need not be performed [S. 62] 221
                       Novation 221
                           Change of parties 221
                           Substitution of new agreement 221
                           Interdependent promises 223
                           Rescission and restoration 223
                       Remission of performance [S. 63] 223
                           Acceptance of less sum 224
                           Waiver 224
                           Extension of time 226
                       Accord and satisfaction 226
                       Abandonment 227
                       Material alteration 227
                   Quasi-contracts or certain relations resembling those
                   created by contract 228
                       Rationale 228
                           Supply of necessaries [S. 68] 229
                           Payment by interested person [S. 69] 229
                               Payer must be interested in making payment 229
                               But should not be bound to pay 230
                               Defendant should be under legal obligation to pay 230
                               Payment by one to another 230
                           Liability to pay for non-gratuitous acts [S. 70] 231
                               Not intending to act gratuitously 231
                               Service should have been rendered without request 232
                               ''Lawfully does'' 233
                               Contract void under Article 299 or otherwise 234
                               Non-gratuitous acts 234
                               ''Enjoys the Benefit'' 234
                           Finder of goods [S. 71] 235
                           Mistake or coercion [S. 72] 235
                               Mistake of fact or of law 235
                               Mistaken payment of taxes 236
                               Change of position by payee in reliance on payment 237
                               Coercion 238
                   Quasi-contracts in English Law 238
                       Payments to defendant's use 238
                       Voluntary payments 240
                       Payments made under Mistake of Fact 240
                       Payments made under an ineffective contract 241
                       Payments made under compulsion 242
                       Quantum meruit 242
                   Discharge by Breach 244
                       Anticipatory breach 244
                           Acceptance of repudiation by aggrieved party 244
                           Consequences of not accepting repudiation 245
                           Minor irregularities do not amount to breach 247
                           Failure to perform promise wholly 247
                           Termination by notice 249
                   Damages for Breach 249
                       Remoteness of damage 249
                           Rules in Hadley v Baxendale 250
                           Recovery of special damages only when knowledge of special
                           circumstances 250
                           Special circumstances already known 251
                           Re-examination of the two rules 252
                           House of Lords restored original vitality of the two rules 253
                           Physical injury resulting from breach 254
                       Section 73, Contract Act 254
                           Section 73 declaratory of Hadley v Baxendale rules 256
                           Difference between market price and contract price 257
                           Meaning of market price 258
                           Consequences of delay in transit 259
                           Agreement to provide finance 259
                           Building contracts 260
                   Measure of Damages 260
                       Damages are compensatory, not penal 261
                           Inconvenience caused by breach 261
                           Loss caused by misrepresentation 261
                           Incidence of taxation 262
                           Nominal damages 262
                           Pre-contract expenditure 263
                       Mental pain and suffering 263
                           Photographer's failure to appear at wedding 264
                           Holiday cases 264
                           Package Tour 265
                           Solicitor's failure to take appropriate steps to
                           protect client's in-terest 266
                           Loss of pets due to carrier's negligence 266
                           Demotion of employee without reasonable cause 266
                           Mental distress caused by negligent professional advice 267
                           Negligent Valuation 267
                           Negligent Surgical Operation 267
                           Failure by band to attend wedding reception 268
                           Refusal to provide motel booked for wedding reception 268
                           Damages for breach of confidence 268
                           Dishonour of Cheques 269
                           Trade Secrets 269
                           Impact of inflation on damages 270
                       Duty to mitigate 270
                           Aggrieved party increasing loss by unreasonable conduct 271
                           Duty of mitigation in auction sales 271
                           Contract of employment 272
                           Reasonableness of conduct 272
                           Transactions concerning property 273
                           Aggrieved party not to be inflicted with unusual burdens in
                           name of ''mitigation'' 273
                           Liquidated damages and penalty [S. 74] 274
                           English Law 274
                           Court's Power to Reduce Specified Amount 274
                           Application to Hire-Purchase Transactions 275
                           Heavy Amount as Evidence of Penalty 275
                           Fixed Figure Constitutes Ceiling 276
                           Section 74, Contract Act 276
                           Forfeiture of earnest money or deposit 278
                           Where no loss caused 280
                           Where profit follows 281
                           Forfeiture of earnest money only when reasonable to do so 281
                           No forfeiture where extra costs otherwise recovered 281
                           Security money under other contracts 281
                           Effect of partial breach 282
                           Clear notice of clause requisite 282
                           Minimum charges 282
                           Consent decrees 282
                       Statutory damages 283
                       Remedy by way of writ 283
                   Assignment of Contracts 284
                       Assignment of liabilities 284
                       Assignment of rights 284
                       Effect and formalities of assignment 286
                           Consideration 286
                           Subject to equities 286
                           Notice of assignment 286
Contract of Indemnity
                       Definition and nature [S. 124] 287
                           Definition in English law 287
                           Definition in S 124 287
                           Indemnity bond 288
                           Indemnity insurance 288
                           Specified time for notice 289
                       Extent of liability [S. 125] 289
                       Commencement of liability 289
Guarantee
                       Definition 291
                           Economic functions of guarantee 291
                               Parties 291
                               Collateral liability 291
                       Essential features of guarantee 292
                           Principal debt 292
                               Guarantee for void debt 292
                               Guarantee of minor's debt 292
                           Consideration [S. 127] 293
                               Benefit of principal debtor, enough consideration 294
                           There should be no misrepresentation or concealment
                           [Ss. 142-143] 294
                           Writing not necessary [S. 126] 295
                       Extent of Surety's Liability [S. 128] 296
                           Co-extensive 296
                           Condition precedent to liability 296
                           Surety's right to limit his liability 298
                           Continuing Guarantee 298
                           Liability under Continuing Guarantee 298
                           Liability under bank guarantee 299
                               Letters of credit and bank guarantees 301
                               No arbitration about bank guarantee 302
                               Period of Limitation 302
                           Joint-debtors and suretyship [S. 132] 303
                       Discharge of Surety from Liability 303
                           By Revocation [S. 130] 303
                           By death of surety [S. 131] 304
                           By variance [S. 133] 305
                               Advance Authorisation of Alteration or Waiver of Rights 307
                               Effect of decree against surety 307
                           Release or discharge of principal debtor [S. 134] 307
                               Release of principal debtor 308
                                     Effect of Debt Relief Acts 308
                                     Application of Insolvency Laws 308
                               Act or omission 309
                           Composition, extension of time and promise not to sue
                           [S. 135] 309
                               Composition 309
                               Promise to give time 309
                               Promise not to sue 310
                                     Forbearance to sue 310
                                     Promise to give time made with third person 311
                           By impairing surety's remedy [S. 139] 311
                               Creditor's duty in realising security 313
                               Duty when security is hypothecation 314
                   Rights of Surety 314
                       Rights against principal debtor 314
                           Right of Subrogation [S. 140] 314
                               Rights before payment 315
                           Right to Indemnity [S. 145] 315
                       Rights against creditor 316
                           Right to securities [S. 141] 316
                           Right of set off 319
                       Right against co-sureties 319
                           Effect of releasing a Surety [S. 138] 319
                           Right to Contribution [Ss. 146-147] 319
                       Indemnity and guarantee distinguished 320
Bailment
                   Definition and Essentials [S. 148] 322
                       Delivery of possession 322
                           Actual or constructive delivery 323
                       Delivery upon contract 324
                           Non-contractual bailments 324
                           Contract, express or implied 325
                       Conditional delivery 325
                           Sale and Bailment 326
                   Duty of Bailor 327
                       Duty of gratuitous bailor 327
                       Duty of bailor for reward [S. 150] 327
                   Duties of Bailee 328
                           Duty of reasonable care [S. 151] 328
                               Loss by theft 329
                               Burden of proof 330
                               Loss due to act of bailee's servant 331
                               Bailee's own goods lost with those of bailor 331
                               Involuntary bailee 332
                               Contract to contrary 332
                           Duty not to make unauthorised use [S. 154] 334
                           Duty not to mix [Ss. 155-157] 335
                           Duty to return [Ss. 160 and 165] 335
                               Termination of gratuitous bailment 336
                           Duty not to set up jus tertii [Ss. 166-167] 336
                           Duty to return increase [S. 163] 337
                       Finder [Ss. 168 and 169] 337
                   Rights of Bailee 338
                       Right to compensation [S. 164] 338
                       Right to necessary expenses or remuneration [S. 158] 338
                       Right of lien [Ss. 170-171] 339
                           Particular lien [S. 170] 339
                               Exercise of labour and skill 340
                           General lien [S. 171] 341
                               Bankers 341
                               Factors 344
                               Wharfingers 344
                               Attorneys of High Court 345
                               Policy-brokers 345
                           Types of lien covered by the Act 345
                       Right to sue [Ss. 180 and 181] 345
Pledge
                   Definition and essentials 347
                       Delivery of possession 347
                           Pledge by way of hypothecation 348
                       In pursuance of contract 349
                   Rights of pawnee 349
                       Right of retainer [Ss. 173 and 174] 349
                           Special and paramount interest of pledgee 350
                           Hypothecatee has no direct right of seizure 350
                       Right to extraordinary expenses [S. 175] 351
                       Right of sale [S. 176] 351
                           Requirement of notice 352
                           Loss of security due to pledgee's negligence 353
                           Sale by hypothecatee 354
                   Pawnor's right to redeem [S. 177] 354
                   Who can pledge 355
                       Pledge by mercantile agent [S. 178] 355
                           Mercantile agent 355
                           Possession with owner's consent 356
                           In the course of business 356
                           Good faith 356
                               Pledge by documents of title [S. 178] 357
                           Person in possession under voidable contract [S. 178-A] 357
                           Pledge by pledgee [S. 179] 358
                               Additional exceptions under Sale of Goods Act 359
Agency
                   Definition of ''agent'' 360
                       Co-agents and co-principals 361
                       Hire-purchase transactions 361
                   Essentials of agency 362
                       Principal should be competent to contract 362
                       Agent need not be competent 363
                       Consideration for appointment not necessary 363
                       Agent and servant 363
                       Agent and bailee 364
                       Agent and buyer 365
                       Kinds of agent 365
                           Factor 365
                           Broker 365
                           Del credere agent 365
                   Creation of Agency 366
                       Express appointment 366
                       Implied agencies 368
                           Estoppel 368
                           Husband and wife 369
                           Husband not implied agent of wife 370
                       Agencies of necessity 370
                           Marine adventures 371
                           Pre-existing relationship not necessary 371
                           Relief of injured persons 372
                           Conditions for application of the principle 373
Relations of Principal and Agent
                  Duties of Agent 375
                       Duty to execute mandate 375
                       Duty to follow instructions or customs [S. 211] 375
                       Duty of reasonable care and skill [S. 212] 376
                           Duty to maintain confidence 378
                       Duty to avoid conflict of interest [S. 215] 378
                       Duty not to make secret profit [S. 216] 379
                       Duty to remit sums 380
                       Duty to maintain accounts [S. 213] 381
                           Inspection of Agent's Accounts 382
                       Duty not to delegate [S. 190] 382
                           Nature of work 383
                           Trade custom 383
                           Ministerial action 383
                           Principal's consent 383
                   Effects of Delegation 383
                       Improper delegation [S. 193] 384
                       Proper delegation [S. 192] 384
                           Principal represented by sub-agent 384
                           Agent's responsibility for sub-agent 384
                           Sub-agent's liability to principal 384
                       Substituted agent [Ss. 194 and 195] 385
                       Principal's remedies 386
                   Rights of Agent 386
                       Right to remuneration [S. 219] 386
                           Effect of misconduct [S. 220] 388
                       Right of retainer [S. 217] 389
                       Right of lien [S. 221] 389
                           Effect of lien 390
                           Loss of lien 390
                       The right to indemnity [Ss. 222 and 223] 391
                       Right to compensation [S. 225] 393
Relations of Principal with Third Parties
                   Agent's Authority 394
                       Actual authority [Ss. 186-187] 394
                           Express authority [S. 186] 395
                           Implied authority [S. 187] 396
                       Scope of authority 396
                       Authority of special agents 398
                           Factor 398
                           Broker 398
                           Estate or house agent 398
                           Auctioneer 399
                           LIC Agent 399
                       Ostensible or apparent authority [S. 237] 399
                           Statutory provision about apparent authority 402
                           Actual or constructive notice of lack of authority 403
                           Just and reasonable solution 403
                       Agent's authority in emergency [S. 189] 403
                       Where agent exceeds authority [Ss. 227-228] 403
                       Effect of notice to agent 404
                           Knowledge of broker 405
                       Liability for agent's wrongful acts [S. 238] 405
                           Misrepresentations and frauds 406
                           Agent's torts 407
                   Rights and Liabilities of Undisclosed Principal 408
                       Where principal disclosed 408
                       Unnamed principal 408
                       Undisclosed principal 409
                           Subject to Equities 409
                           Third Party's Right to Repudiate Executory Contract 410
                           Undisclosed Principal Cannot Intervene against express Terms 411
                           Third party's right against undisclosed principal 411
                   Personal Liability of Agent [S. 230] 411
                       Foreign principal [S. 230(1)] 412
                       Principal unnamed [S. 230(2)] 413
                       Non-existent or incompetent principal [S. 230(3)] 414
                           Election by third party [S. 232] 414
                       Pretended agent [S. 235] 415
                       Breach of warranty of authority 416
                   Ratification 417
                       Conditions of ratification 417
                           On behalf of another 417
                           Competence of principal 418
                           What acts can be ratified [S. 200] 419
                               Acts done on behalf of Government 419
                           Knowledge of facts [S. 198] 419
                           Whole transaction [S. 199] 420
                           Within reasonable time 420
                       Effects of ratification 420
                           Doctrine of relation back 420
Determination of Agency
                       By revocation [S. 203] 422
                           Revocation operates prospectively [S. 204] 423
                           Notice precedent to revocation [S. 206] 423
                           Liability to compensate [Ss. 205-206] 424
                           Agency coupled with interest [S. 202] 424
                       By renunciation by agent [S. 206] 426
                       Completion of business [S. 201] 426
                       Death or insanity [S. 201] 427
                       Principal's insolvency [S. 201] 427
                       On expiry of time 427
                       Effects of termination [S. 208] 427
                       Agent's duty on termination [S. 209] 428
PART II : PARTNERSHIP
Definition and Nature of Partnership
                   Definition and Essentials 431
                       Agreement 431
                           Deed of partnership 432
                       Business 432
                       Sharing of profits 433
                       Mutual agency 434
                           Persons other than partners sharing profits 434
                               Joint-owners sharing gross returns 435
                               Lender of money receiving profits 436
                               Servant or agent receiving profits 437
                               Widow or child of deceased partner 437
                               Seller of goodwill 437
                       Maximum number of partners 438
                       Meaning of firm 438
                       Firm name 439
                       Partnership and co-ownership 440
                       Partnership and joint family 440
                       Partnership and company 441
                       Duration of firm 441
                           Where no duration fixed 441
                           Continuation after expiry of term 442
                           Fixed duration necessary for certainty 442
                       Partnership in single or brief business venture 442
Relations of Partners to One Another
                   Mutual Relations 444
                       Agreements in restraint of trade 444
                   Duties of Partners 445
                       Duty of good faith [S. 9] 445
                       Duty not to compete [S. 16(b)] 446
                       Due diligence [Ss. 12(b) and 13(f)] 447
                       Duty to indemnify for fraud [S. 10] 448
                       Duty to render true accounts [S. 9] 448
                       Proper use of property [S. 15] 449
                           Duty to use property for firm purposes 449
                           Nature of liability for misappropriation 449
                       Duty to account for personal profits [S. 16] 450
                           Information received as partner 450
                   Rights of Partners 451
                       Right to take part in business [S. 12(a)] 451
                       Majority rights [S. 13(c)] 451
                       Access to books [S. 12(d)] 452
                       Right to indemnity [S. 13(e)] 452
                       Right to profits [S. 13(b)] 453
                       Right to interest [S. 13(c) and (d)] 453
                       Right to remuneration [S. 13(a)] 453
                   Continuance of the Partnership [S. 17] 454
                       Change in constitution 455
                       After expiry of term 455
                       Where additional undertakings are carried out 455
                   Partnership Property [S. 14] 455
                       Concept and nature of partnership property 455
                       What constitutes partnership property 456
                           Property originally brought in 456
                               Illustrations provided by the Indian Trusts Act, 1882 457
                               Illustration in the preceding Act 457
                               Goodwill and trade marks 457
                           Property subsequently acquired 457
                               Property acquired in breach of duty 458
                           Partner's property in firm's use 458
                               Partner's personal trade marks 459
                               Partner's house property in firm's use 459
                               Partner's personal licence 459
                               Partner's tenancy rights 460
                           Conversion of joint into separate property 460
Relations of Partners to Third Parties
                   Liability of Partners for Acts of Firm 461
                       Act of the firm 462
                   Doctrine of Implied Authority 462
                       Scope of implied authority [S. 19] 463
                           Trading and professional firms and borrowing power 463
                           Joint venture 464
                           Legal proceedings 465
                           Some examples of implied authority 465
                           Partner acting in self-interest 466
                       Restrictions on implied authority [Ss. 19 and 20] 466
                           Statutory restrictions 466
                           Restrictions by agreement 467
                       Authority in emergency [S. 21] 468
                       Mode of exercising authority [S. 22] 468
                       Admissions by partner [S. 23] 469
                       Effect of notice to partner [S. 24] 469
                   Liability for Torts and other wrongs [S. 26] 470
                   Liability for Misappropriation [S. 27] 471
                   Liability for Holding Out [S. 28] 473
                       Representation 474
                       Knowledge of representation 475
                           Application of the doctrine to retirement of partner 475
                               Deceased partner 476
                               Insolvent partner 476
                               Dormant partner 476
                   Transferee of Partner's Interest [S. 29] 476
                   Minor as Partner [S. 30] 477
Incoming and Outgoing Partners
                   Incoming Partner 480
                       Liability of new partner [S. 31(2)] 480
                   Outgoing Partner 481
                       Modes of retirement 482
                           By consent [S. 31] 482
                           By agreement [S. 32] 482
                           By notice [S. 32] 482
                           By insolvency [S. 34] 482
                           By death [S. 35] 483
                           By expulsion [S. 33] 483
                       Liability of retired partner 484
                           Liability for acts done before retirement [S. 32(2)] 484
                           Liability for acts done after retirement [S. 32(3)] 485
                       Rights of outgoing partner 486
                           Right to compete [S. 36] 486
                           Right to share subsequent profits [S. 37] 487
                   Revocation of Continuing Guarantee [S. 38] 489
Dissolution
                   Modes of Dissolution 490
                       By consent [S. 40] 490
                       By agreement [S. 40] 490
                           Reconstitution after dissolution 490
                       Compulsory dissolution [S. 41] 491
                           Insolvency 491
                           Illegality of business 491
                       Contingent dissolution [S. 42] 492
                           Expiry of term 492
                           Completion of business 492
                           Death of partner 493
                           Insolvency of partner 493
                       By notice [S. 43] 494
                       Dissolution by court [S. 44] 495
                           Insanity 496
                           Permanent incapacity 496
                           Misconduct 496
                           Persistent breach of agreement 497
                           Transfer of interest 497
                           Perpetual losses 497
                           Just and equitable 497
                       Whether right to apply for dissolution can be excluded 498
                       Property situate out of territory 498
                   Consequences of Dissolution 498
                       Public notice and liability for acts done after dissolution [S. 45] 498
                       Where public notice not necessary 499
                       Authority of partners in winding up [S. 47] 499
                       Liability to share personal profits [S. 50] 500
                       Winding up [S. 46] 501
                       Mode of settlement of accounts [S. 48] 502
                           Subject to agreement 503
                           Advances and loans by partners 504
                       Refund of premium [Ss. 51 and 52] 504
                       Agreements in restraint of trade [Ss. 53 and 54] 506
                           Restraining use of firm property 507
                       Sale of goodwill [S. 55] 507
                           Modification by agreement 508
Registration of Firms
                       Procedure of registration 510
                       Change of particulars [S. 60] 510
                       Penalty for false particulars [S. 70] 511
                       Rules of evidence [S. 68] 512
                   Effects of Non-Registration [S. 69] 512
                       Suits between partners and firm [S. 69(1)] 513
                       Suits between firm and third parties [S. 69(2)] 513
                           Set-off and other proceedings 514
                           Change in Constitution of Registered Firm 515
                       Exceptions 515
                           Actions for dissolution and accounts 515
                           Recovery of insolvent's share 516
                           Value of suit Rs 100 516
                           Statutory and non-contractual rights 516
                           Suits by third parties 517
                       Non-partnership matters 517
Supplemental
                   Public Notice 518
                       Comments 518
PART III : SALE OF GOODS AND HIRE PURCHASE
Sale of Goods Act, 1930
                   The Contract of Sale 521
                       Definition and essentials of sale [S. 4] 521
                           Bilateral contract 521
                           Money consideration 522
                           Sale and contract of work and material 522
                           Goods 524
                       Sale and agreement to sell 525
                           When agreement to sell becomes sale [S. 4(4)] 526
                       Agreement to sell and hire-purchase 526
                       Formalities of sale [S. 5] 528
                       Subject-matter of contract [S. 6] 528
                       Effect of destruction of goods [S. 7] 529
                       Goods perishing after agreement to sell [S. 8] 530
                       The price [S. 9] 530
                           Fixing of price 531
                       Agreement to sell at valuation [S. 10] 531
Conditions and Warranties
                   Implied Conditions 533
                       Condition as to title [S. 14] 533
                       Sale by description [S. 15] 534
                           Purchase on basis of description 535
                           Packing as description 535
                           Time and place of arrival of goods as description 536
                           Condition of goods at time of shipment 536
                           Meaning of correspondence with description 536
                       Sale by description as well as by sample [S. 15] 538
                       Exceptions to principle of caveat emptor [S. 16] 538
                           Statement of caveat emptor 538
                           Exceptions 539
                               Fitness for buyer's purpose [S. 16(1)] 540
                                   Sale under trade name [Proviso to S 16(1)] 542
                                   Sale to consumer : Statutory changes 543
                                   Sale by Agent 544
                               Merchantable quality [S. 16(2)] 544
                                   Meaning of merchantable quality 545
                                       Marketability 546
                                       Reasonable fitness for general purposes 546
                                           Defective packing 547
                                           Partly defective 547
                                           Test of merchantable quality 548
                                           Statutory definition of merchantable quality 548
                                   Satisfactory quality 549
                                   Examination by buyer 549
                                   Distinction between first and second exceptions 550
                               Conditions implied by trade usage [S. 16(3)] 551
                               Express terms [S. 16(4)] 552
                       Sale by sample [S. 17] 552
                           Bulk to correspond with sample 552
                           Opportunity to compare bulk with sample 553
                           Free from defects rendering goods unmerchantable 553
                       Miscellaneous or innominate terms 554
                   Implied Warranties 554
                       Quiet possession [S. 14(6)] 555
                       Free from encumbrance [S. 14(c)] 555
                   Condition reduced to warranty [S. 13] 555
                       Waiver by buyer 555
                       Acceptance of goods by buyer 556
                           Condition reduced to warranty only for remedial purposes 557
                       Exclusion of implied terms [S. 62] 558
                           By Express contract 558
                           Course of dealing 560
                           Trade usage 560
                       Consumer sales 560
                       Duration of implied terms 561
                       Stipulations as to time [S. 11] 561
                           Time of payment 561
                           Other stipulations as to time 561
Passing of Property
                       Significance of passing of property 564
                       Property passes when intended to pass [S. 19] 564
                   Sale of Specific Goods [Ss. 20-22] 565
                       Specific goods in deliverable state 565
                           Specific goods 566
                           Deliverable state 567
                           Unconditional contract 568
                               Property passes at the time of contract 568
                       Goods to be put in deliverable state [S. 21] 569
                       Goods to be weighed or measured [S. 22] 569
                   Sale on Approval [S. 24] 571
                       By acceptance [S. 24(1)] 571
                       By failure to return [S. 24(2)] 572
                   Sale of Unascertained Goods [Ss. 18 and 23] 573
                       Ascertainment 573
                       Appropriation 574
                           Property does not pass till appropriation 574
                           Appropriation with mutual assent 575
                           Appropriation without buyer's assent, ineffective 575
                           Buyer's assent express or implied 576
                           Appropriation should be unconditional and of
                           goods of contract quality 576
                           Intention of parties 576
                       Delivery to carrier [S. 23(2)] 577
                           Acknowledgement by bailee 577
                           Delivery to post office 578
                       Reservation of right of disposal [S. 25] 578
                           Property passes on compliance with seller's conditions 579
                       Transfer of risk [S. 26] 580
                           Risk and property go together 580
                       Separation of risk from property 580
                           Delay in delivery of goods 580
                           Trade Customs 581
                           Express agreement 581
Transfer of Title
                       Nemo dat quod non habet 582
                       Exceptions 583
                           Estoppel [S. 27] 583
                               Estoppel by negligence 583
                           Sale by mercantile agent [S. 27, proviso] 584
                               Mercantile agent 584
                               In possession as mercantile agent 585
                               With owner's consent 585
                               Must sell while acting as mercantile agent 586
                               Good faith and without notice 586
                           Sale by joint owner [S. 28] 587
                           Sale by person in possession under voidable contract [S. 29] 587
                               Sale after avoidance of contract does not pass title 587
                               Good faith and without notice 588
                           Seller in possession after sale [S. 30(1)] 588
                           Buyer in possession before sale [S. 30(2)] 589

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