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Ramchandra B. Loyalka v. Shapurji N. Bhownagree

ByVivek Kumar Verma

Ramchandra B. Loyalka v. Shapurji N. Bhownagree  (1940) 42 BOMLR 550 (Section 124, 126 and 145 of Indian Contract Act, Difference between Indemnity and Guarantee) FACTS: The plaintiff (P) was a sub-broker employed by the defendant broker (D) on 50% commission. P introduced 6 constituents and became answerable to the broker for them. The constituents…