In Suraj Lamp and Industries Pvt. Ltd. vs. State of Haryana and Anr.[1], Supreme Court, with reference to its earlier judgments in Narandas Karsondas v. S.A. Kamtam and Anr.[2] and Rambaran Prosad v. Ram Mohit Hazra[3] observed that as per Section 54 of the Transfer of Property Act, a contract of sale or agreement of…
Difference between: (a) ‘non-obstante’ clause and (b) ‘subject to’ other provisions The effect of any provision containing non-obstante clause and the ambit and scope of a provision which has been made ‘subject to’ some other provision or enactment and distinction between the two, is well established. When a provision of any enactment is made ‘subject…
In Halsbury’s Laws of England[1] it is stated- “The chief distinctions between superior and inferior courts are found in connection with jurisdiction. Prima facie, no matter is deemed to be beyond the jurisdiction of a superior court unless it is expressly shown to be so, while nothing is within the jurisdiction of an inferior court…
In Navaneethammal vs. Ammakannammal and Ors.[1], the plaint included a claim which was prima facie untenable. However, such untenability of the claim was discovered only after the decision of the Federal Court. It is evident that the untenability of a claim is undoubtedly a reason for disallowing the same. However, if the Court happens to…
Mortgage by Conditional Sale: What it means Section 58(c) of the Transfer of Property Act, 1882 provides- (c) Mortgage by conditional sale.– Where, the mortgagor ostensibly sells the mortgaged property – on condition that on default of payment of the mortgage-money on a certain date the sale shall become absolute, or on condition that on…
Difference between Indemnity and Guarantee Indemnity Guarantee Section 124 of Indian Contract Act: a contract by which one party promises to save others from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person Section 126 of Indian Contract Act: a contract to perform the promise, or…
Definition of Slump Sale As per S. 2(42C), of Finance Act, 1999, ‘slump sale’ means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales. As per Sect 180 of Companies Act, 2013- “180. (1) The Board…