Meaning of Agency by Operation of Law Agency by Operation of Law arises not from an express agreement between parties but automatically due to circumstances […]
Tag: indian contract act 1872
33. Contract of “Suretyship”.
Meaning of Contract of Suretyship A Contract of Suretyship is defined under Section 126 of the Indian Contract Act, 1872. It is a contract in […]
26. Rights of Pawner.
Meaning of Pawner and His Rights A Pawner is the person who delivers goods to another (the Pawnee) as security for payment of a debt […]
23. Contract of Guarantee.
Meaning of Contract of Guarantee A Contract of Guarantee is defined under Section 126 of the Indian Contract Act, 1872. It is a contract where […]
21. Universal Agent.
Meaning of Universal Agent Under the Indian Contract Act, 1872, an agent is a person employed to do any act for another or to represent […]
16. Co-Surities.
Meaning of Co-Sureties When two or more persons stand as sureties for the same debt or obligation of a principal debtor, they are called co-sureties. […]
12. Delegation of Authority.
Meaning of Delegation of Authority Delegation of authority means the transfer of decision-making power or responsibility from one person to another, usually from a higher […]
10. Surety.
Meaning of Surety A surety is a person who promises to the creditor to fulfill the debt or obligation of another (the principal debtor) in […]
9. Pledge by non-owner.
Meaning of Pledge by Non-Owner Normally, only the owner of goods has the right to create a valid pledge. However, under certain circumstances, even a […]
8. Indemnity
Indemnity – Meaning and Definition The term indemnity means to make good the loss of another person. Under Section 124 of the Indian Contract Act, […]