Download - subsequent imposiblities
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GROUP MEMBERS:
BUSINESS & INDUSTRIAL LAW
NAME IDHAMAIL AHMED 9883MUBASHIR MAGRAY 9719MURTAZA UR REHMAN
9727
RAZI SIDDIQUI 9723MAHAD 9030
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SUSEQUENT IMPOSSIBLITIES
(section 56)
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Death Insane
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WAR
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CHANGE IN LAW
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DESTRACTION OF SUBJECT MATTER
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FAILURE OF PURPOSE
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MINOR
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Capacity of PARTIES
MINOR
UNSOUND MIND
Disqualified By LAW
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Nature of minor’s agreement
Void Agreement : “An agreement with Minor is Void.”
Minor And Necessaries : “A Person who supplies necessaries to a Minor.”
Agreement On Behalf Of Minor: “A Minor binding in contract by his guardian.”
Majority Act, 1875 (Sec.11)
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Nature of minor’s agreement
Minor As an Agent : “A Minor can act as an Agent.”
Minor As a Partner : “Minor Cannot become a Partner of a firm.”Contract By Minor And Adult : “A Minor & an adult jointly inter in a contract with another person.”
Majority Act, 1875 (Sec.11)
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BAILMENTSection 148
“Delivery Of Goods From One Person To Another Person for
specific purpose”
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Essential of bailment
• Contract• Specific purpose• Delivery of goods• No change of ownership• Return of same goods
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Contract
“The legal relationship between bailer & bailee known as contract”..
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SPECIFIC PURPOSE
“Ali gives his car to mechanic for repairing. Repairing is specific purpose”
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Delivery of goods
ALI BUYS A TV FROM KAMRAN. THAN ALI ASK KAMRAN TO KEEP THE TV FOR 30 MINS FOR THAT TIME KAMRAN IS BAILE
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No change of ownership
The possession of goods change from one person to another person
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RETURN THE SAME
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ABOUTRIGHTS OF BAILEE
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RIGHTS OF BAILEE RIGHT TO CLAIM DAMAGES
RIGHT TO RECEIVE EXPENSE
RIGHT TO STOP DELIVERY
RIGHT TO SUE
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AGENT
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AGENTThe principal-agent relationship is an
arrangement in which one entity legally appoints another to act on its behalf. In a principal-agentrelationship, the agent acts on behalf of the principal and should not have a conflict of interest in carrying out the act.
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Agency Theory
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Essentials of Agency
1 . Agreement2 . Principal3 . Agent4 . Intention5 . Consideration not necessary
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Duties of Agent
Duty to follow direction.Duty to work with Reasonable skills.Duty to Renda Accounts.Duty to termination of Agency.Duty not to deal on his own Accounts.Duty not to make a SECRET Profit.