Indian Law

Indian Contract Act, 1872: Bailment and Pledge Question 1.State with reasons whether the foLlowing statement is correct or incorrect: Placing of ornaments in a bank locker is a contract of bailment. (May 1998, 2 marks)ORState whether the following statement is correct or incorrect: Depositing of ornaments In a bank locker is a bailment. (May 2015, […]

Negotiable Instruments Act, 1881 Question 1.Write Short Notes on Endorsement under Negotiable Instruments Act, 1881 (Dec 2021, 3 marks)Answer:Endorsement:As per Section 15 of the Negotiable Instrument Act states that when the maker or holder of a negotiable instrument signs the same, otherwise than as such maker, for the purpose of negation on the back or […]

The General Clauses Act, 1897 Question 1.What is “Financial Year” under the General Clauses Act, 1897?Answer:Financial Year: As per Sec. 3(21) of the General Clauses Act, 1897, ‘Financial Year’ shall mean the year commencing on the first day of April. The term year has been defined u/s 3 (66) as a year reckoned according to […]