Category: The Indian Contract Act, 1872

In contractual matters, the High Courts do not like to exercise extraordinary jurisdiction under Article 226 of the Constitution of India – M/s Hornbill Consultants Vs. State of Punjab and Others – Supreme Court

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In case there are more than one surety the liability is to be divided equally among the sureties for unpaid amount of loan. Once the sale has been confirmed it cannot be set aside unless a fundamental procedural error has occurred or sale certificate had been obtained by mis-representation or fraud – Ram Kishun & Ors Vs. State of U.P. & Ors. – Supreme Court

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Chapter-VIII Indemnity and Guarantee of Indian Contract Act, 1872-Bare provisions

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Indian Contract Act, 1872 CHAPTER VIII OF INDEMNITY AND GUARANTEE Section: 124. “Contract of indemnity” defined. Section: 124. “Contract of indemnity” defined. A contract by which one party promises to save the other from loss caused to him by the…

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