The book prepared according to following syllabus Question-Answer Format in English Medium.
SPECIAL CONTRACTS [SALE OF GOODS ACT, 1930, INDIAN PARTNERSHIP ACT, 1932, LIMITED LIABILITY PARTNERSHIP ACT, 2008]
SCHEME OF PAPER: MAX. MARKS: 100 MIN. PASS MARKS: 36
(1) There shall be ten questions in the examination paper, two questions from each unit. The candidate is required to attempt five questions, one question from each unit is compulsory. All questions carry equal marks. (2) The syllabus includes latest amendments in the subject wherever applicable.
OBJECTIVES OF THE COURSE: Essentially all the commercial transactions are regulated by the law of contract. The expansion of commercial activities at a global market environment makes the understanding of the law of contract even more critical. This course follows the pattern about the general principles that apply to all contracts. They deal with general principles that apply to each specific contractual relationship. The study of this course will enable a good understanding of the purposes with which each of these transactions is made, the features of each of these transactions, and the rights and liabilities of the parties to them.
UNIT - I
Contracts of Indemnity and Guarantee:
Meaning, Distinction between Indemnity and Guarantee and Kind of Guarantee; Rights of Indemnity Holder; Rights of the Surety, Extent of the Liability of the Surety; Discharge of liability of the Surety; Contracts of Bailment and Pledge: Meaning and Kinds of Contracts of Bailment – Bailment without Consideration; Rights and Duties of Bailee and Bailer; Termination of Contract of Bailment; Contract of PledgeMeaning and Definition, Pledge by Unauthorized Persons;
UNIT - II Contract of Agency:
Definition, Kinds and Modes of Creation of Agency; Relation between-i) The Principal and Agent ii) The Principal and Third Party, and iii)The Agent and the Third Party Determination of Agent‘s authority –i) By Act of Parties; and ii) By Operation of Law – Irrevocable Authority;
UNIT - III Contract of Sale of Goods:
Sale: Meaning, Definition and Distinguish between Agreement to Sell, Hire-Purchase Agreement; Goods: Existing, Future and Contingent; Conditions and Warranties; Passing of Property from Seller to Buyer; Sale by Unauthorized Person; Law relating to Performance of Sale; Rights of Unpaid Seller;
UNIT - IV
Contract of Partnership:
Meaning, Definition, Creation and the Characteristics of Contract of Partnership; Kinds of Partner and Partnership; Distinction between: i) Co-ownership and Partnership ii) Joint Hindu Family Firm and Partnership; iii) Company and Partnership iv) Limited Liability Partnership and Partnership; Position of Minor; Relations inter-se of partners and relation of Partners with third parties; Registration of Partnership firm; Effect of Non-Registration of Partnership Firm; Dissolution of Firm;
UNIT – V
Limited Liability Partnership Act, 2008:
Need, Importance, Objectives; Definition, Concept, Key Features of the Act and Judicial Responses
LEADING CASES: 1) Amritlal Goverdhan Lallan v. State Bank of Travancore, AIR (1960) SC 1432
2) Hindustan Construction Company Limited v.Union of India 2019 SC
3) National Bank of India Ltd. v. Sohan Lal AIR 1965 SCR (3) 293
4) Patnaik & Co. v. State of Orissa AIR (1965) SC 1655
5) Serious Fraud Investigation Office v. Rahul Modi, 2019 SC 423
6) State of Gujarat v. Mamon Mohd. AIR (1967) SC 1885