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Folder_24x24 Mercantile Law

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THE TRUST ACT 1882 THE TRUST ACT 1882 Preamble [Act No.2 Of 1882] [13th January 1882] An Act to define and amend the law relating to Private Trusts and Trustees. WHEREAS it is expedient to define and amend the law relating to private trusts and trustees; it is hereby enacted as follows: - CHAPTER I PRELIMINARY Short title and commencement- This 1Act may be called the 2 * Trusts Act, 1882, and...
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“SALES CONTRACT OF OF GOODS ACT, 1930” http://rehanaca.spaces.live.com SALE: SALE Transfer, agree to transfer, possession. “SALES VS. AN AGREEMENT TO SALE” “SALES VS AN AGREEMENT SALE Sales Agreement to Sale DEFINITION Seller ceases to be owner Executed transfer at future time NATURE Executory NATURE Absolute, pure & Simple OF UNDERTAKING Condition is annexed NATURE Jus in rem {(Sale)...
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“Railways Act 1890” http://rehanaca.spaces.live.com FORWARDING (CONSIGNMENT) NOTE: (CONSIGNMENT NOTE Note containing the description of the goods. RESPONSIBILITY OF THE CONSIGNOR: correctness of the particulars provided by him, CONSIGNOR responsible for loss. RAILWAY RECEIPT: A doc of title to goods, an evidence of contract of carriage, RECEIPT represented by the consignee to the railway, to t...
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PARTNERSHIP ACT, 1932 ACT http://rehanaca.spaces.live.com DEFINITION: Partnership is the relationship between persons who have agreed to have the profits of the business carried-on by all or any of them acting for all. ESSENTIAL ELEMENTS / TEST ELEMENTS TEST PARTNERSHIP: 1. 2. 3. 4. 5. Association of Persons. Agreement. Business. Sharing of Profit. Agency. OF DUTIES OF PARTNERS: PARTNERS (G...
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“General Principles of Law of Contract” http://rehanaca.spaces.live.com 1. PROPOSAL: ESSENTIALS OF 3. PROMISE: TYPES OF PROMISES: PROPOSAL: Definite Certain Unequal Clear intention to be bound Communication. Expressed Promise. Implied Promise. PROMISOR PROMISEE. KINDS 1. 2. 3. 4. 5. 6. OF PROPOSAL: COMPLETION OF COMMUNICATION OF PROPOSAL: Express Proposal Implied Proposal Counter Propo...
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“Contract of Carriage, 1865” COMMON CARRIER: CARRIER 1. 2. 3. 4. Non-Government Person. Regular activity. Land or Inland Navigation. No discrimination. OF LIABILITIES OF COMMON CARRIER: COMMON CARRIER Common Carrier is bound to make goods to the consignor for all damages, generally. DUTIES 1. 2. 3. 4. 5. 6. Duty Duty Duty Duty Duty Duty OF COMMON CARRIER: COMMON CARRIER to accept and c...
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“CARRIAGE OF GOODS BY SEA” “CARRIAGE GOODS SEA CONTRACT OF AFFRAIGHTMENT: AFFRAIGHTMENT Agreement by ship owner for carriage of goods. TYPES OF CONTRACT OF AFFRAIGHTMENT: CONTRACT AFFRAIGHTMENT A Charter Party. Bill of Lading contract. Charter Party: Major/ principal part of ship is allotted to the merchant. Kinds of Charter Party: Voyage Charter: Charter of a ship for a particular voyage. Time...
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“CARRIAGE OF GOODS BY AIR” “CARRIAGE GOODS AIR HIGH CONTRACTING PARTY (HCP): CONTRACTING PARTY All Governments who have signed the Warsaw Convention rules are known as HCP. INTERNATIONAL CARRIAGE: CARRIAGE Point of departure and destination of cargo is b/w two HCPs. RIGHT RIGHT OF AIR CONSIGNOR: AIR CONSIGNOR OF DISPOSITION / WITHDRAWAL: DISPOSITION 1. Consignor can withdraw cargo at any ...
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