PAPER 2.5. SPECIAL CONTRACTS [SALE OF GOODS ACT, 1930, INDIAN PARTNERSHIP ACT, 1932, LIMITED LIABILITY PARTNERSHIP ACT, 2008]

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) 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:  National Bank of India Ltd. v. Sohan Lal AIR 1965 SCR (3) 293  Amritlal Goverdhan Lallan v. State Bank of Travancore, AIR 1960 SC 1432  Patnaik & Co. v. State of Orissa AIR 1965 SC 1655  State of Gujarat v. Mamon Mohd. AIR 1967 SC 1885  Serious Fraud Investigation Office v. Rahul Modi, 2019 SC 423  Hindustan Construction Company Limited v. Union of India 2019 SC