Law
Of
Contract - II
For
MJPRU / GJUM / CCSU / MSU / Others
Unit I: Foundational Specific Contracts: Indemnity & Guarantee
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Contract of Indemnity: Definition, Nature, Essentials
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Rights of Indemnified, Extent of Indemnifier's Liability
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Contract of Guarantee: Definition, Nature, Essentials, Distinction from Indemnity
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Types of Guarantee: Specific, Continuing
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Rights of Surety (against Creditor, Principal Debtor, Co-sureties)
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Liabilities of Surety (Commencement, Extent, Co-sureties)
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Discharge of Surety from Liability
Unit II: Bailment & Pledge: Principles and Applications
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Contract of Bailment: Definition, Nature, Essentials, Types of Bailment
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Distinction between Bailment and Sale, and Bailment and Pledge
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Rights and Duties of Bailor and Bailee
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Termination of Bailment
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Concept of Lien: Particular and General Lien
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Contract of Pledge: Definition, Nature, Essentials, Distinction from Bailment and Mortgage
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Rights and Duties of Pawnor and Pawnee
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Commercial utility of pledge transactions
Unit III: Agency Law: Formation, Scope, and Liabilities
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Contract of Agency: Definition, Nature, Essentials
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Modes of Creation of Agency (Express, Implied, Ratification, Necessity)
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Relationship between Principal and Agent: Rights and Duties
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Authority of an Agent: Actual, Ostensible
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Rights and Liabilities of Undisclosed Principal
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Personal Liability of an Agent
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Modes of Termination of Agency
Unit IV: The Sale of Goods: Transfer of Ownership and Remedies
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Contract of Sale of Goods: Definition, Nature, Essentials
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Distinction between Sale and Agreement to Sell
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Sale by Sample and Sale by Description
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Conditions and Warranties: Express and Implied
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Rule of Caveat Emptor and its Exceptions
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Nemo dat quad non habet and its Exceptions (Transfer of Title)
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Duties of Sellers and Buyers
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Passing of Property in Goods: Specific Goods, Unascertained Goods, Goods Sent on Approval
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Delivery of Goods: Rules regarding Delivery, Acceptance of Goods
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Unpaid Seller: Definition, Rights of Unpaid Seller (Lien, Stoppage in Transit, Resale)
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Remedies for Breach of Contract (Suit for Price, Damages for Non-Delivery/Non-Acceptance)
Unit V: Partnership Law: Structure, Operation, and Dissolution
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Contract of Partnership: Definition, Nature, Essentials of Partnership
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Distinction between Partnership and Co-ownership, Partnership and Company, Non-Partnership Interests
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Mutual Relationship between Partners: Rights, Duties, and Liabilities
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Authority of Partners: Implied and Express Authority
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Formation of Partnership: Registration of Firms, Effects of Non-Registration
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Minor as a Partner: Position, Rights, and Liabilities
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Partner by Holding Out
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Dissolution of Firms: Modes of Dissolution (by Agreement, Compulsory, Notice, Court Order)
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Introduction to Limited Liability Partnership Act
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