What is contract of bailment according to the Indian Contract Act 1872 What are the rights and liabilities of the parties involved in it?

What is contract of bailment according to the Indian Contract Act 1872 What are the rights and liabilities of the parties involved in it?

Bailment has been defined under the Section 148 of the Indian Contract Act, 1872, according to which Bailment involves the delivery of goods from one person to another for a specific purpose and upon a contract, when the purpose is fulfilled, the good has to be returned or dealt with on the direction of the person who …

What is the provision of section 180 of Indian Contract Act 1872?

—If a third person wrongfully deprives the bailee of the use of possession of the goods bailed, or does them any injury, the bailee is entitled to use such remedies as the owner might have used in the like case if no bailment had been made; and either the bailor or the bailee may bring a suit against a third person for …

What is the use of Section 27 of the Indian Contract Act 1872?

Section 27 of Indian contract Act, 1972 states that, “Agreement in restraint of trade, void – Every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void. Exception 1. – Saving of agreement not to carry on business of which goodwill is sold.

What are the rights and duties of bailor and bailee under the Indian Contract Act 1872?

As per section 170 of the Indian Contract Act, 1872, the bailee has a lien on the goods that he receives under the contract of bailment. It is a right to detain any property belonging to another person which is in the possession of the person exercising the lien in respect of any payment lawfully due to him.

What are the essentials of a valid offer as per Indian Contract Act 1872?

(1) The offer must be Communicated Communication or expression of the willingness by the offerer to enter into a contract or abstain from doing so is essential for a valid offer. Mere desire or willingness to do or not to do something is not enough and will not constitute for an offer.

What is difference between Pledge and bailment?

In law, the word bailment is used in its technical sense which means the change in the possession of goods i.e. one person transfers the goods to another person. On the other hand, Pledge is a kind of bailment in which one person bails his goods to another person as security against loans.

What are the rights of Bailee?

Thus when the goods have been delivered by several for of owners, Bailee can return goods any one of the owner if there is no contrary Agreement. Right to recover charges Right to return the goods in cases of joint bailers [S. 165] Right of Compensation [S. 164] Right to apply to the court [S.

What is coercion under the Indian Contract Act 1872?

‘Coercion’ defined. —’Coercion’ is the committing, or threatening to commit, any act forbidden by the Indian Penal Code (45 of 1860) or the unlawful detaining, or threatening to detain, any property, to the prejudice of any person whatever, with the intention of causing any person to enter into an agreement.

What is Section 37 of Indian contract Act?

Section 37 of Indian Contract Act 1872 : “Obligation of parties to contracts” 37. The parties to a contract must either perform, or offer to perform, their respective promises, unless such performance is dispensed with or excused under the provisions of this Act, or of any other law.

What is bailment under Indian Contract Act?

3) Bailment is defined under section 148 of the Indian Contract Act 1872 It says a Bailment is a delivery of goods by one person to another for some purpose upon a contract that they shall when the purpose is accompanied be return or otherwise disposed of.

What is Section 148 of Indian Contract Act 1872?

Section 148 in The Indian Contract Act, 1872. 148. ‘Bailment’, ‘bailor’ and ‘bailee’ defined.—A ‘bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them.

What is contract of bailment and pledge?

He discusses the contract of bailment and pledge. What is bailment? Bailment as defined in section 148 of the Indian contract act 1872 is the delivery of goods by one person to another for some specific purpose, upon a contract that these goods are to be returned when the specific purpose is complete.

What are the rights of a bailor under ICA 1872?

3) SECTION 153 ICA 1872:- The bailor has the right to terminate the contract of bailment when the bailee does any act concerning the goods bailed inconsistency with the conditions of the bailment. 4) SECTION 180 ICA 1872:- The bailor is entitled to bring sued against the wrongdoer in respect of the thing bailed.