The Kesari Nandan Academy - Contract - II

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LL.B. | Contract-II

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Unit I: Foundational Specific Contracts: Indemnity & Guarantee

Contract of Indemnity: Definition, Nature, Essentials

Rights of Indemnified, Extent of Indemnifier's Liability

Contract of Guarantee: Definition, Nature, Essentials, Distinction from Indemnity

Types of Guarantee: Specific, Continuing

Rights of Surety (against Creditor, Principal Debtor, Co-sureties)

Liabilities of Surety (Commencement, Extent, Co-sureties)

Discharge of Surety from Liability

Unit II: Bailment & Pledge: Principles and Applications

Contract of Bailment: Definition, Nature, Essentials, Types of Bailment

Distinction between Bailment and Sale, and Bailment and Pledge

Rights and Duties of Bailor and Bailee

Termination of Bailment

Concept of Lien: Particular and General Lien

Contract of Pledge: Definition, Nature, Essentials, Distinction from Bailment and Mortgage

Rights and Duties of Pawnor and Pawnee

Commercial utility of pledge transactions

Unit III: Agency Law: Formation, Scope, and Liabilities

Contract of Agency: Definition, Nature, Essentials

Modes of Creation of Agency (Express, Implied, Ratification, Necessity)

Relationship between Principal and Agent: Rights and Duties

Authority of an Agent: Actual, Ostensible

Rights and Liabilities of Undisclosed Principal

Personal Liability of an Agent

Modes of Termination of Agency

Unit IV: The Sale of Goods: Transfer of Ownership and Remedies

Contract of Sale of Goods: Definition, Nature, Essentials

Distinction between Sale and Agreement to Sell

Sale by Sample and Sale by Description

Conditions and Warranties: Express and Implied

Rule of Caveat Emptor and its Exceptions

Nemo dat quad non habet and its Exceptions (Transfer of Title)

Duties of Sellers and Buyers

Passing of Property in Goods: Specific Goods, Unascertained Goods, Goods Sent on Approval

Delivery of Goods: Rules regarding Delivery, Acceptance of Goods

Unpaid Seller: Definition, Rights of Unpaid Seller (Lien, Stoppage in Transit, Resale)

Remedies for Breach of Contract (Suit for Price, Damages for Non-Delivery/Non-Acceptance)

Unit V: Partnership Law: Structure, Operation, and Dissolution

Contract of Partnership: Definition, Nature, Essentials of Partnership

Distinction between Partnership and Co-ownership, Partnership and Company, Non-Partnership Interests

Mutual Relationship between Partners: Rights, Duties, and Liabilities

Authority of Partners: Implied and Express Authority

Formation of Partnership: Registration of Firms, Effects of Non-Registration

Minor as a Partner: Position, Rights, and Liabilities

Partner by Holding Out

Dissolution of Firms: Modes of Dissolution (by Agreement, Compulsory, Notice, Court Order)

Introduction to Limited Liability Partnership Act

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