Law Relating to Special Contracts–Contracts of Bailment, Pledge, Hypothecation, Indemnity and Guarantee

Modern businesses have deployed special contracts intensively and also made innovations when required. Agreements regarding indemnity are used to cover a wide array of risks arising from performance of contracts and other business dealings. Bank guarantees and performance guarantees are a part of nearly all commercial contracts. The traditional concept of ‘Pledge’ in the law of bailment has found a new significance in the practice of pledging of shares for raising corporate loans. Hypothecation and hire-purchase, widely employed as means of financing and security, share features with pledge. Agency explains much in the contemporary developments connected to outsourcing and dealings between corporations. A rigorous grasp of the principles that govern special contracts is essential for engaging with challenges in today’s business environment and for sharpening professional skills. With these ends in mind, the author has delved deep into the old and new British cases to discover the core principles which come to us from common law. He examines critical Indian cases and reviews their connection with English law. This lucid book, follows a narrative style conducive for developing a conceptual understanding of the subject.