—The bailment of products as security for cost of a debt or efficiency of a promise is called ‘pledge’. C lends money to B on the security of a joint and several promissory notice made in C’s favour by B, and by A as surety for B, along with a bill of sale of B’s furnishings, which provides energy to C to sell the furniture, and apply the proceeds in discharge of the notice. Subsequently, C sells the furnishings, but, owing to his misconduct and wilful negligence, solely a small value is realized. C contracts to lend B 5,000 rupees on the 1st March.
IMPOUND ACCOUNT– A trust account established to set aside funds for future needs. HOUSE RULES– Rules of conduct adopted by a board of directors of a condominium and designed to advertise harmonious residing among the many house owners and occupants. HOMESTEAD– A house which is used as a personal residence. HOMEOWNER’S ASSOCIATION– A non-profit affiliation of householders organized pursuant to a declaration of restrictions or protecting name something you put on your head covenants for a subdivision, a PUD, or a condominium. GOOD WILL– An intangible, salable asset arising from the status of a business. FLOOR AREA RATIO– The ratio of floor space to land space expressed as a p.c or decimal, which is determined by dividing the whole floor space on a zoning lot by the lot area.
EXECUTORY CONTRACT– A contract in which one or each of the events has not yet performed. ESCHEAT– The reversion of property to the state when a decedent dies intestate and there are no heirs capable of inheriting, or when the property is deserted. DISCRIMINATION– The act of making a distinction against or in favor of an individual on the idea of the group or class to which the particular person belongs; the failure to treat individuals equally.
Read the offer letter rigorously earlier than signing. Outlay thrown away because of the breach of promise p. forty six. The Commission inclines to the view that in rural Ireland a jilted woman might undergo more humiliation and loss of chances than a jilted woman in a city.
LAND CONTRACT– Another name for an installment purchase contract, by which the buyer obtains equitable title while the vendor retains legal title as safety for cost of the stability of the acquisition worth. JOINT TENANCY– A type of property possession by two or more individuals during which the joint tenants have one and the same curiosity, arising by one and the same conveyance, commencing atone and the identical time and held by one and the same possession(the idea of “four unities”). GROSS LEASE– A lease of property underneath which the lessee pays a onerous and fast lease, and the lessor pays the taxes, insurance coverage, and other charges often incurred via possession. GRADUATED RENTAL LEASE– A lease by which the hire payments start at a fixed, typically low price, however “step up” or increase at set intervals because the lease term matures. GENERAL PARTNER– A co-owner of a partnership who is empowered to enter into contracts on behalf of the partnership and who is totally answerable for all partnership debts. EXTENDER CLAUSE– A “carry over” clause contained in an inventory which supplies that a broker remains to be entitled to a commission for a set of time period after the itemizing has expired if the property is offered to a former prospect of the broker.
Principal not sure when extra of agent’s authority just isn’t separable.—Where an agent does more than he’s authroized to do, and what he does beyond the scope of his authority can’t be separated from what’s inside it, the principal is not sure to recognize the transaction. A, at Madras, by letter directs B to sell for him some cotton lying in a warehouse in Bombay, and afterwards, by letter revokes his authority to promote, and directs B to ship the cotton to Madras. B after receiving the second letter, enters right into a contract with C, who is aware of of the primary letter, however not of the second for the sale to him of the cotton. A authorizes B to buy 1,000 bales of cotton on account of A, and to pay for it out of A’s money remaining in B’s arms.
A contracts to sell and ship to B, on the primary of January, sure material which B intends to fabricate into caps of a particular type, for which there isn’t any demand, besides at that season. The cloth just isn’t delivered until after the appointed time, and too late to be used that 12 months in making caps. A contracts to pay a sum of cash to B on a day specified. B, in consequence of not receiving the money on that day, is unable to pay his debts, and is completely ruined. A just isn’t liable to make good to B anything except the principal sum he contracted to pay, together with curiosity upto the day of fee. A is not liable to make good to B something except the principal sum he contracted to pay, together with interest upto the day of fee.”
However there could also be irregular circumstances past the management of the person performing service. If such circumstances forestall an individual from rendering service of the specified quality, nature and the manner, such particular person shouldn’t be penalised for the same. Thus, the test is – whether or not the particular person towards whom the criticism is made performs a service for consideration which is sought by a possible consumer. A complaint after expiry of limitation period just isn’t permitted. A criticism can’t be filed after the lapse of two years from the date on which the cause of action arise unless the Forum is happy in regards to the genuineness of the rationale for not filing complaint within the prescribed time.
