...temporary placement of control over, or possession of Personal Property by one person, the bailor, into the hands of another, the bailee, for a designated purpose upon which the parties have agreed. The term bailment is derived from the French bailor , "to deliver." It is generally considered to be a contractual relationship since the bailor and bailee, either expressly or impliedly, bind themselves to act according to particular terms. The bailee receives only control or possession of the property while the bailor retains the ownership interests in it. During the specific period a bailment exists, the bailee's interest in the property is superior to that of all others, including the bailor, unless the bailee violates some term of the agreement. Once the purpose for which the property has been delivered has been accomplished, the property will be returned to the bailor or otherwise disposed of pursuant to the bailor's directions. A bailment is not the same as a sale, which is an intentional transfer of ownership of personal property in exchange for something of value. A bailment involves only a transfer of possession or custody, not of ownership. A rental or lease of personal property might be a bailment, depending upon the agreement of the parties. A bailment is created when a parking garage attendant, the bailee, is given the keys to a motor vehicle by its owner, the bailor. The owner, in addition to renting the space, has transferred possession and control...
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...Contents Table of cases Introduction Bailment Defined Position under English Law Position under Indian law Conclusion Table of Cases Altas vs. Patil AIR 2004 Ker Atul Mehra And Anr. vs Bank Of Maharashtra on 22 March, 2002 Basanta Kumar vs. Kumud Mitter 1900 Binns vs. Piggot Bevan vs. Waters (1828) Jones vs. Turloe, 1723,8 Mod 172. Blount vs. War Office 1953, Damodar Das Agarwal vs. R. Badrilal Devivder kumas vs chaudhary gulab singh, ILR 1946 Nag Dinesh Pal vs, Chief Engineer Naval Academy AIR 2003 ICIC Bank Limited,vs. Maharashtra Rajya Rashtriya (2005) IILLJ 700 Bom J&K Bank Ltd. Vs. Abdul Samad AIR 2008 j&k. Kaliaperumal Pillai vs Visalakshmi AIR 1938, Legg vs. Evans 1842 Mangalore Catholic Bank ltd. Vs Sundra shetty 1987 . Nath Bros. Exim International Ltd vs Best Roadways, SCC 2000 O’Sullivan vs. Williams, Board of Trustees of the Port of Bombay v. M. Sriyanesh Knitters, AIR 1999 SC 2947, Parakh vs King Emperor AIR 1926 Oudh Shipping Corpn. Of India vs Monica India And Ors. on 18 March, 201 State Bank Of Patiala vs Northland Sugar Complex Ltd. on 30 January, 2004 Ultzen vs Nicols 1894, Wicks Farming v. Waraluck Mining P/L (1996) 1 QdR 99 Introduction The Bailment is another type of special contract and it is necessarily dealt with by the Contract Act. Since it is a ‘contract’, naturally all basic...
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...caused to the goods. Issues The issue is that here the consignor is the bailor and the consignee is the bailee and according to the Section 161 of the Contract Act the Railways is responsible to the bailor that is the consignor for any loss, deterioration or destruction of the goods. But in this case the bailor has not filed the suit instead the suit has been filed by the consignee. Rules The rules governing this case are: Section 72 of the Indian Railways Act - “The responsibility of a railway administration for the loss, destruction or deterioration of animals or goods delivered to the administration to be carried by railway shall, subject to the other provisions of the Act, be that of a bailee under Sections 151, 152 and 161 Of the Indian Contract Act 1872 .“ Section 161 of the Indian Contract Act - “If by the default of the bailee, the goods are not returned, delivered or tendered at the proper time, he is responsible to the bailor for any loss, destruction or deterioration "Of the goods from that time.” Application According to the Section 72 0f the Railways Act and Section 161 of the Contract Act it is difficult to hold that any person other than the bailor is entitled to sue. Also the consignee is not entitled as the owner of the goods in the case. Conclusion In view of Section 72 of the Railway Act and Section 161 of Contract Act , the Railways is responsible only to the bailor, that is the consignor and does...
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...or mortgage is considered indivisible even though debt may be divided. * If debtor’s heir paid part of debt, there is no partial release/extinguishment of pledge or mortgage until it is fully paid. * Creditor’s heir who received his share of debt can’t return the thing or cancel mortgage. * Exception: Partial release of obligation is possible when each of the thing guarantees only a determinate portion of the obligation. 2090. Pledge and mortgage is still indivisible even if obligation is joint or solidary. 2091. PM can secure all kinds of obligations (voidable or unenforceable)(pure or subject to suspensive or resolutory condition) 2092. A promise to create PM, gives rise only to personal right or personal action bet parties and no real right in property. PLEDGE pledgor-debtor pledgee-creditor 2093. Requisites 1. 2085 2. Thing must be placed in possession of creditor. (actual & continuous possession.) Properties that may be pledged 2094. Movables within commerce of man & susceptible of possession...
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...Earth Elements: Breaking The Chinese Monopoly Plan: The United States federal government will sponsor U.S. companies who are willing to mine rare earth elements from the seabed. The United States federal government will also ratify the Law of the Sea in order to substantially increase U.S. exploration and/or development of the Earth’s oceans. Access To Rare Elements is Essential To U.S. National Security Vital Elements of U.S. Industrial Production are Dependent on Rare Earth Element Marc Humphries, (Specialist in Energy Policy), Congressional Research Service, December 16, 2013. Retrieved November 5, 2014 from http://fas.org/sgp/crs/natsec/R41347.pdf. Some of the major end uses for rare earth elements include use in automotive catalytic converters, fluid cracking catalysts in petroleum refining, phosphors in color television and flat panel displays (cell phones, portable DVDs, and laptops). Other uses include permanent magnets and rechargeable batteries for hybrid and electric vehicles, generators for wind turbines, and numerous medical devices. There are important defense applications, such as jet fighter engines, missile guidance systems, anti missile defense, space-based satellites and communication systems. Permanent magnets containing neodymium, gadolinium, dysprosium, and terbium are used in numerous electrical and electronic components such as new- generation generators for wind turbines. Marc Humphries, (Specialist in Energy Policy)...
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...Chapter 17 | | respondeat superior | Latin for “let the master respond.” A doctrine under which a principal or an employer is held liable for the wrongful acts committed by agents or employees while acting within the course and scope of their agency or employment. | agency | A relationship between two parties in which one party (the agent) agrees to represent or act for the other (the principal). | apparent authority | Authority that is only apparent, not real. In agency law, a person may be deemed to have had the power to act as an agent for another party if the other party’s manifestations to a third party led the third party to believe that an agency existed when, in fact, it did not. | disclosed principal | A principal whose identity is known to a third party at the time the agent makes a contract with the third party. | e–agent | A computer program that by electronic or other automated means can independently initiate an action or respond to electronic messages or data without review by an individual. | equal dignity rule | In most states, a rule stating that express authority given to an agent must be in writing if the contract to be made on behalf of the principal is required to be in writing. | fiduciary | As a noun, a person having a duty created by his or her undertaking to act primarily for another’s benefit in matters connected with the undertaking. As an adjective, a relationship founded on trust and confidence. | independent contractor...
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...particulars of grounds and regulations. According to Romans 8:25, “But if we hope for what we do not see, we wait for it with patience” (English Standard Version). With each circumstance, Barney should be able to see clarity in his situation with the legal advice of an attorney to review with him his options based on Statues of North Carolina law. Facts Barney has various assets in his possession. He is an owner of mountain property, a beach house, and antique collector’s car. Barney has four separate legal issues he is bringing to the attention of an attorney. The first dispute is with the son of a business partner of Barney’s. Barney owned some mountain property with 3 other co-owners. The property was purchased as joint tenants with right survivorship. All the other co-owners have passed on. One co-owner has willed his portion to his son who took out a personal loan against his “supposed” portion of the mountain property. Next dispute is with a man who has been living at the mountain property for two decades and is claiming the property is his. Then after visiting his beach property, Barney, discovered that the town had seized his property, to begin allow construction begin on a resort. Lastly, his 1963 Ford Galaxy, was stolen after a scheme to set up a fake valet service up in front of the restaurant Barney was dining at. He does locate the vehicle at a Classic Car Show. The man in the possession of the vehicle refuses to give him back his vehicle till he is reimbursed...
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...Q. What is a general offer? How is a contract created through general offer? Refer to leading cases. An offer may be made to the world at large. Such an offer is a general offer. However, a contract is not done with the whole world but only with the person who comes forward and accepts the offer. The acceptance might be express or implied. As per Anson, "An offer need not be made to an asertained person, but no contract can arise until it is accepted by an ascertained person". Case of Carllil vs Cabolic Smoke Ball Company. Creation of the contract - If the person performs the conditions of the offer. Thus, a person who finds a lost dog fulfills the condition of the prize money and thus a contract with the owner of the dog is created. General Offer of Continuing Nature - Some offers such as finding a lost object close when it is accepted by the first person. However, some offers, such as in the Carllil case, it can be accepted by any number of persons until the closing date of offer or until it is retracted. Q. Describe the law relating to communication of proposals, their acceptance and their revocation. Section 2(a) of Indian Contract Act 1972 says that when a person signifies his willingness to do or to abstain from doing something to another, with a view to obtaining the assent of that another, he is said to make a proposal. Further, section 2(b) says that when the person to whom the proposal is made signifies his assent, the proposal is said to be accepted. The important...
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...Right Duties and Liabilities of Banker and Customer Banker: In simple words banker denotes a bank. He is the person who represents bank in front of client and customer. Following are definitions of banker: “ A banker is any businessman who is carrying on the business of banking “ Customer: The word customer has been defined in English or Pakistan’s law. In simple word a customer is such a person to whom you extend your services in return of consideration. The customer is defined as following: “ there must be some sort of account either a depositor or a current account in some similar relation to make a man customer of a banker “ Rights of banker Followings are the rights of banker Right to lein: Lien means the right to retain a property belo0nging to some other person until the debt payable by him has been paid. Accordong to section 171 of contract act, 1872, Bankers’s lien extand to all securities placed with him by the customer. Right of set-off: Sett-off means adjusting a debit balance against a credit balance. Banker can adjust or set-off the debit balance of the account of customer against the credit balane in another account of the same customer. Right to charge for their services: ...
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...India except the State of Jammu and Kashmir. The Act mostly deals with the general principles and rules governing contracts. The Act is divisible into two parts. The first part (Section 1-75) deals with the general principles of the law of contract, and therefore applies to all contracts irrespective of their nature. The second part (Sections 124-238) deals with certain special kinds of contracts, e.g., Indemnity and guarantee, bailment, pledge, and agency. The term contract has been defined by various authors In the following manner: "A contract is an agreement creating and defining obligations between the parties". -Salmond "A contract is an agreement enforceable at law, made between two or more persons, by which rights are acquired by one or more to acts or forbearances on the part of the other or others". -Anson "Every agreement and promise enforceable at law is a contract". -Sir Fredrick Pollock The Indian Contract Act has defined contract in Section 2(h) as "an agreement enforceable by law". These definitions resolve themselves into two distinct parts. First, there must be an agreement. Secondly, such an agreement must be enforceable by law. To be enforceable, an agreement must be coupled with an obligation. A contract therefore, is a combination of the two elements: (1) an agreement and...
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...law relating to contract is governed by the Indian Contract Act, 1872. The Act came into force on the first day of September, 1872. It extends to the whole of India except the State of Jammu and Kashmir. The Act is by no means exhaustive on the law of contract. It does not deal with all the branches of the law of contract. Thus, contracts relating to partnership, sale of goods, negotiable instruments, insurance etc. are dealt with by separate Acts. What is contract? The term contract has been defined by various authors in the following manner: “A contract is an agreement creating and defining obligations between the parties”. —Salmond “A contract is an agreement enforceable at law, made between two or more persons, by which rights are acquired by one or more to acts or forbearances on the part of the other or others”. —Anson “Every agreement and promise enforceable at law is a contract”. —Sir Fredrick Pollock The Indian Contract Act has defined contract in Section 2(h) as “an agreement enforceable by law”. These definitions indicate that a contract essentially consists of two distinct parts. First, there must be an agreement. Secondly, such an agreement must be enforceable by law. To be enforceable, an agreement must be coupled with an obligation. A contract therefore, is a combination of the two elements: (1) an agreement and (2) an obligation. Thus Contract = Agreement +enforcement at law. Agreement As per Section 2(e)...
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...how personal property is acquired. 3. Discuss the definition and significance of bailments. 4. Define different types of tenancies in real property. 5. Discuss the concept of eminent domain. Ryan McVay/Photodisc/Thinkstock The concept of property and ownership is one that has long been important in both society in general and law in particular. English philosopher and political theorist John Locke saw it as "the reason why men enter into society," and Walter Lippmann, the American journalist, described it as "the only dependable foundation of personal liberty." Some have gone so far as to say that the main reason for law is to protect property rights. Even if one does not subscribe to such a narrow purpose, there is no doubt that the law is much concerned with property and rights of ownership. Property can be defined as the right of an individual to exclusively possess, use, and dispose of anything that is capable of being owned. Broadly speaking, property can be divided into three separate types: personal property, intellectual property, and real property. Personal property is characterized by its portable nature; it can be carried from place to place. Furthermore, personal property can be either tangible or intangible. Tangible personal property encompasses ownership interest in things that have a physical existence and are able to be moved, or carried, from place to place. Most property falls into this category: a car, wallet, photograph, shirt, pen, and phone are all common...
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...it can be moved. Moveable property II. Personal Property c. What are the two different types of personal property: i. Tangible Personal Property is moveable property that can be seen touched, and possessed 1. Examples: Clothing, food, silverware, musical instruments, desks ii. Intangible Personal Property is moveable property that consists of evidences of ownership of rights or values. 2. Examples: Certs. of deposit, contracts, copyrights, checks, gold coins d. What are the 3 options a person has to protect their creation: iii. The law protects the right to use property as well as the right to own it iv. The law not only protects the right to own property but also the right to use it v. Property includes not only physical things but also such things as bank deposits, notes, and bonds that give the right to acquire physical property or to use such property e. What are bailments? Legal relationship by which possession of personal property is delivered by one party (a bailor) to another party (a bailee) and the identical property is to be returned, delivered to a third party, sold, or accounted for in the manner agreed upon by the parties f. What are examples of bailments? Bob holds Tom watch for safekeeping, Al rents a car, Dan rents a car III. Real Property g. What are fixtures? Personal property so securely attached to real estate that it becomes part of the...
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...[pic] BUSI 2601 BUSINESS LAW Winter 2015 PROFESSOR: J.L. GILLES LEVASSEUR OFFICE: 1705 DT PHONE: 520-2600 ext. 6805 (during office hours only) EMAIL: jlgilles.levasseur@sympatico.ca TIME: TUESDAYS 19 h 00 – 22 h 00 OFFICE HOURS: 10 - 11 pm, every Tuesday nights PREREQUISITES: For students registered in B.Com., BIB or Minor in Business The School of Business enforces all prerequisites. COURSE PHILOSOPHY The purpose of the course Business Law in Canada consists in understanding the legal environment which has an impact on Canadian businesses. The course is divided in three parts. Part 1 deals with an overview of the Canadian legal environment. Part 2 deals with the legal forms of business and organisation. Part 3 part deals with the law of torts and the law of contracts. Part 4 looks at specific topics of law such as bailment, Sale of Goods, Interests in Land. Throughout the course, students are encouraged to focus on their personal or work experiences as they relate to the course material. All the course material assigned and learnt will be cumulative and students will be tested comprehensively on their understanding of the material at the end of the course. Students are prohibited from using any electronic devices to tape record classes, lectures or discussions and to use them during examination. REQUIRED TEXTBOOK There is one textbook required for this class: Duplessis et al., Business and the Canadian...
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...C H A P T E R 22 THE IRAC METHOD A. PURPOSES OF IRAC B. IRAC COMPONENTS 1. Issues 2. Rules of Law 3. Application of the Law to the Problem’s Facts 4. Conclusion 446 446 448 449 451 452 CHAPTER OVERVIEW The IRAC chapter focuses on the writing style used for the discussion portion of the memo. IRAC is an acronym for Issue, Rule, Application, Conclusion. These are the building blocks of a memo’s discussion. You will learn to identify issues and applicable legal authority. You will also learn how to extract the legally significant facts and apply them to the relevant law to draw substantiated conclusions. You will learn to identify effective IRAC use by dissecting discussions and labeling the IRAC components, and you will learn to draft IRAC sequences as well. 445 446 CHAPTER 22 / THE IRAC METHOD A. PURPOSES OF IRAC ! What Is IRAC? IRAC stands for Issue, Rule, Application, Conclusion. IRAC is the architectural blueprint for the discussion portion of a legal memo. It gives legal writing continuity and clarity and organizes the contents of the discussion. IRAC provides legal support and analysis for the issues posed by the problem and guides the writer toward a well-supported conclusion. IRAC benefits both the writer and the reader because the components are essentially a checklist designed to ensure that the discussion is analytically well thought-out and that it contains the necessary legal authority. IRAC is very important because...
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