Bailment
The loan definition contained in Article 148, is given here
:
A " bailment " is the delivery of goods from one
person to another for some purpose , to a contract shall, when the purpose is
accomplished , be returned or otherwise disposed of according to the
instructions of the person delivering them. The person delivering the goods is
called the " depositor " . The person they are delivered is called
the " depositary "
Explanation: If a person already in possession of the goods
of other contracts to hold them as a bailee , which becomes the bailee , and
the owner becomes the depositor of such goods despite that are not delivered by
way of bailment .
Fundamentals of bailment :
contract
There is an underlying contract between the depositor and
trustee , there may be a contract can be explicit or implicit contracts .
specific purpose
The bailment of goods is provided for a specific purpose .
Delivery of goods
There must be delivery of chattels by a contract of bailment
.
No change of ownership
In a lease agreement , only the possession of goods is
transferred from the depositor to the depository , while the applicant has all
the rights of ownership of the goods delivered .
Return of goods delivered in fulfillment of purpose .
When it finishes the purpose for which the goods are
delivered , products must be returned in their original form or in modified
form as instructed by the depositor.
For the benefit of the depositor , Mr. Yasir , while leaving
the city gave some precious household Mr. Usman to maintain security , with no
obligation to pay any fees / charges . This is a bailment for the benefit of
the depositor.
For the benefit of the depositary -Mr . Umer gave his car to
Mr. Ahsan , as it was in need of transportation for a few days . Mr. Umer gave
this car without any obligation on the part of Mr. Ahsan to pay any rent /
charges for the use of this car. The loan is solely for the benefit of Mr.
Ahsan , the bailee .
For the benefit of the depositor and trustee -Mr . Ahmad
availed the pigeonholes of M / S XYZ Bank Ltd . Under the terms and conditions
of Mr. Ahmad was required to pay the fee of Rs.1000 / year due to make use of
this service. This contract is for the benefit of the parties , the depositor
and the depositary.
against goods . He is responsible for the safe delivery of
the goods bailed to him and in default is liable to the depositor by the loss
of the goods .
Products given to a person by the bank in trust receipt -
person becomes a bonded warehouse , responsible for criminal breach of trust if
not - recorded in inventories . The execution of a trust receipt is a
recognized form of what a person bailee of the goods and , in such
circumstances, the Bank should be considered to be in possession or control of
property. The validity and effectiveness of the trust instruments are now
generally recognized . If a person who has signed as a receipt of trust, will
not be delivered to the Bank for sale - proceeds of assets sold, the first
would be liable for criminal breach of trust.
Delivery intentional wrong -Carrier Carrier liable for
damages - the carrier has made intentional wrongful delivery of goods, can
not shirk its responsibility to compensate the plaintiff for the injury caused
to him by the supply of illicit shipments .
Care to be taken depositary ( Article 151 )
In all cases of bailment the bailee is bound to take the
same care of the goods bailed to him as a man of ordinary prudence under
similar circumstances , take of his own goods of the same volume , quality and
value assets rescued
Contract borrower disclaims liability for negligence - The
learned authors considered that a contract by a depositary seeking to set aside
completely from liability for negligence was not valid . This review is based
on the explicit provisions for recruitment to the S. 152, and indeed throughout
the chapter on bailments whenever a rule of law is to operate only in the
absence of a contract to the contrary , it is expressly stated in the section (
see sections 163 , 165, 170 , 171, and 174).
Care to be taken by bailee :
The theft of goods pledged with the Bank pledge document
containing conditions for the continuation of the agreement covering the
borrowers will be responsible for any loss, damage or deterioration of security
caused by theft, fire , rain or any other cause - not be . no discrepancy
between the provisions of S. 151, Contract Act 1872 , and the situation of
compromise document , if the loss was caused by theft, fire , rain or any other
cause , it would be the duty of the custodian to explain that he had taken care
of the goods as a man of ordinary prudence under similar circumstances take of
his own products and if even though the products are lost as committed as
recorded in the document status of commitment, responsibility of the borrower can
not be legally or equitably denied.
Injury to goods in transit by rail - Burden of proof as to
negligence by the company -How to be downloaded load
When due to the long delay in transit, the goods transported
by rail were corrupted. Location: Despite the burden of proving lack of
attention from ' the railroad is in the sender , however , is the duty of the
railroad to supply all the material from which the amount of attention that is
given is proven . The train was held that the delay was due to unavoidable
circumstances , but no material is supplied in support of this, both the
presumption of lack of due care would arise against the railway .
Loss of property due to negligence of the owner - Claim for
damages against the shipowner sustainable
The owner committed a violation of the obligation contained
in the bill of lading and , as such , the recipient is entitled to recover
damages .
Damage to the contents of parcels burden of proof lies with
the sender -Mere damage to containers not show the damage to the contents.
Comments
The depositary notice of a pledge agreement does not become
owner , but as have possession and the right to possess , which is said to have
a special property . Any type of property, documents or personal valuables may
be compromised . Delivery is required to complete a promise, but may be actual
or constructive . It is sufficient if the thing pledged is delivered under the
contract within a reasonable time in advance of the lender to be made.
Monthly Pledge Statements stocks extends Godown goods so
committed to showing the defendant - Bank - All documents signed by an
authorized person on behalf of the plaintiff advisory vouchers - debit produced
by the defendants that show transport rates Godown Keeper paid to visiting
Godown and debit the account of the plaintiff - Products , held , in possession
of the defendant in garment and not just mortgaged .
Agency Agreement
Overall, the Agency refers to the relationship between two
people , the principal and the agent in which the agent has to perform
different tasks / duties as directed by the principal and also enters into
contract with the third party / parties on behalf of the principal. The agency
relationship plays an important role in trade and commercial relations . This
legal relationship is created by virtue of an agreement between the principal
and the agent.
Definition of agent and principal : Sec . 182
Agent is a person employed to do any act for another or to
represent another in dealing with third persons . The person for whom such act
is done , or is represented , is called the principal.
explanation
The legal relationship between a trader in one country and a
commission in another is that of principal and agent, and not the seller and
the buyer , but this is consistent with the agent and the principal, when the
agent consigning goods to the principal, to be in a relationship like that of
buyer and seller for some purposes. A trader , therefore , in this country who
orders goods through a firm of brokers in Europe can not hold the company
responsible vendors like non-delivery of the goods. And the result is the same
if the products are ordered through a branch in this country of a firm of
brokers in another country. For the same reason, when a commission for a trader
buys goods at a price less than the limit specified in the script can not
charge the highest price actually paid by it, except in the case of a custom to
the contrary .
An agent can be, and is often , in fact, a great option, but
it is tied to the right to follow the director's instructions , provided they
do not involve anything illegal. To this extent , an agent can be considered to
be a superior type of servant , and a servant who is responsible for any
dealings with third parties on behalf of his master is to that extent an agent.
But an officer may be wholly without authority to do anything as an agent, and
the agency , in the case of shareholders, including an extensive agency , there
can be no lease and service.
Agency may be created as follows :
1. by consent
Two . By operation of law
Three . by impediment
Four . For the ratification
Agency consent :
Consent may be express or implied .
Agency Express :
This agency is created by words either spoken or written .
In commercial transactions , this relationship is usually established by a
written agreement
Implicit Agency :
An authority is known as implied when it is inferred from
the conduct of the parties or the circumstances of the case. Definitions of
express and implied authority contained in section 187 of the Act are:
" An authority says it's urgent when given by words
spoken or written . An authority is said to be implied when it is to be
inferred from the circumstances of the case , and things spoken or written , or
in the normal course of treatment , you can explain the circumstances of the
case. "
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