subsequent imposiblities
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Transcript of subsequent imposiblities
GROUP MEMBERS:
BUSINESS & INDUSTRIAL LAW
NAME IDHAMAIL AHMED 9883MUBASHIR MAGRAY 9719MURTAZA UR REHMAN
9727
RAZI SIDDIQUI 9723MAHAD 9030
SUSEQUENT IMPOSSIBLITIES
(section 56)
Death Insane
WAR
CHANGE IN LAW
DESTRACTION OF SUBJECT MATTER
FAILURE OF PURPOSE
MINOR
Capacity of PARTIES
MINOR
UNSOUND MIND
Disqualified By LAW
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)
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)
BAILMENTSection 148
“Delivery Of Goods From One Person To Another Person for
specific purpose”
Essential of bailment
• Contract• Specific purpose• Delivery of goods• No change of ownership• Return of same goods
Contract
“The legal relationship between bailer & bailee known as contract”..
SPECIFIC PURPOSE
“Ali gives his car to mechanic for repairing. Repairing is specific purpose”
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
No change of ownership
The possession of goods change from one person to another person
RETURN THE SAME
ABOUTRIGHTS OF BAILEE
RIGHTS OF BAILEE RIGHT TO CLAIM DAMAGES
RIGHT TO RECEIVE EXPENSE
RIGHT TO STOP DELIVERY
RIGHT TO SUE
AGENT
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.
Agency Theory
Essentials of Agency
1 . Agreement2 . Principal3 . Agent4 . Intention5 . Consideration not necessary
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.