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Lecture Notes

UNIT 1:
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Introduction, Meaning, Definition, Element of valid contractClassification of contracts Offer, conditions of making an offer Acceptance, Conditions of acceptance, rules Methods of revocation Consideration-Meaning, Need for consideration, kinds Rules governing consideration Privity of contract Capacity of contract and Free Consent Legality of object, Unlawful and Illegal Agreements, Exceptions
UNIT 2:
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Void agreements, Types, Essentials of Wager Distinction between Wagering agreement and contract of Insurance Void contracts, Performance of contracts Essentials of valid tender , Reciprocal promises Kinds of reciprocal promises, Rules , Appropriation of payments, Assignment of Contracts , Discharge of contracts-Types, Effects of supervening impossibility, Discharge by breach of contract and lapse of time Remedies for breach of contract, Legal rules as to interest, Quantum Meruit
UNIT 3:
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Contract of Indemnity, Rights, Indemnifiers Liability Contract of Guarantee, Essentials Liability of surety, Kinds of guarantee, Rights of surety Discharge of surety, Bailment – Classification Duties and rights of bailor and Bailee Law relating to lien, Termination of bailment Rights and duties of pawnee and pawnor Pledge by Non-owners, Mortgage Contract of agency-Essentials, Rules Creation of agency Requisites of valid ratification Classification of agents, Relation of principles and agents Delegation of a authority, Personal liability of agent Termination of agency
UNIT 5:
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Contract of insurance Kinds of insurance, Nature of contract of insurance Characteristics and Principles of insurance Double insurance and re-insurance Premium, Return of premium Contract of life insurance, Insurable interest Kinds of policy Rights of insurer, types of fire policy Marine insurance, Insurable interest, Types of marine policy, Causes of marine insurance Carriage of goods by land, Sea and Rail