Wednesday, March 16, 2016
The information Technology Act,2000!!!
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Foreign Exchange Management Act, 1999!!!
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Monopolistic and Restrictive Trade Practices Act!!!
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Borrowing Powers, Debentures!!!
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Capital Shares Vs. Shareholders!!!
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The Memorandum Vs. Articles Of Association!!!
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Introduction to Company Law!!!
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General Provision & Arbitration without the Intervention of the Court!!!
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Discharge of The Insolvent!!!
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Proceeding After Order Of Adjudication!!!
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Proceeding Preliminary to Adjudication!!!
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Life Insurance Vs. Marine Vs. Fire & Other Insurance!!!
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Carriage By Land, Sea, and Air!!!
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Hundis Vs. Bankers Vs. Customers
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Dishonor of A Negotiable Instrument!!!
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Acceptance Vs. Negotiation!!!
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Rights and Liabilities Of Partners!!!
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Law Of Agency!!!
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Bailment Vs. Pledge!!
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Indemnity Vs. Guarantee!!
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Quasi-Contracts!!
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Termination or Discharge of Contracts!!
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Performance Of Contracts
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Contingent Contracts!!
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Legality of Object And Consideration!!
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Free Consent!!
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Capacity of Parties!!
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Void And Voidable Agreements!!
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Consideration!!
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Intention To Create Legal Relations
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Offer Vs. Acceptance
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The Essential Elements of Contracts
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Tuesday, March 8, 2016
What is a Bill of Lading?
Bill of lading
A bill of lading is a receipt which acts as a legal document
in between the shipper, and the carrier. It is also known as BL or BoL.
Characteristics:
A bill of lading has got some physiognomies which are given
below:
Ø
Signature:
The bill of lading gets signed by
the shipper first of all, and then by the carrier which is the shipowner or his
agent, and finally by the receiver,
Ø
Evidence:
The bill of lading works as an evidence of the contract for
the carriage of goods as per the carriage of goods by sea act of 1925,
Ø
Acknowledgement:
The bill of lading works as a prima facie evidence of the
receipt of the goods by the carrier,
Ø
Document of title:
The bill of lading is the document of title to goods covered
by the bill. The ownership of the goods can be transferred by endorsement, and
delivery of the bill of lading.
Functions of a bill of lading:
There are three major functions of a bill of lading such as,
Ø
it works as an evidence of the contract of
carriage,
Ø
it works as an acknowledgement of the goods from
the carrier,
Ø
It works as the document of titles to goods.
Terms Of Charter Party
Terms of charter party
Below are the terms of charter party which are required during an
agreement in between a consignor, and a shipowner.
Ø Name of the parties and the ship,
Ø Nationality of the ship,
Ø Class of charter party, and its rating in
the Lloyd’s Register,
Ø A statement on the location of the ship,
and place of loading,
Ø The shipowner’s guarantee of fitness,
Ø The manner in which the voyage is to be
conducted,
Ø The duties of the master or the captain,
Ø The carrying capacity of the ship,
Ø The liabilities of the charterer regarding
the freight,
Ø The expected perils,
Ø The terms regarding loading, unloading, lay
days, demurrage,
Ø Circumstances under which the contract
would be cancelled out, and penalties would be implied due to the
non-performance of the duty etc.
What is Charter Party? What are the Classifications of Charter Party?
Charter party
When an agreement is written formally along with all of its terms and
conditions is called a charter-party. The person who hires the ship is called a
charterer.
Types of charter-party:
Mainly there are three types of charter party such as
ü
Time
charter,
ü
Voyage
charter,
ü
And
demise or bareboat charter.
Each of their explanations is given below:
· Time charter:
When there is a charter party for a particular time period is called a
time charter. So in such a contract a
specified time period very much important.
· Voyage charter:
When there is a charter party for a particular voyage is called a
voyage charter. Here, the particular voyage is taken under the charter party.
· Demise or bareboat charter:
This one is kind of messy but easy to understand that is when the ship
owner gives the whole ship as lease to the charterer, charter becomes the short
term owner of the ship, and the captain and other members become his servant.
On the other hand, if the whole ship is not given as lease but the place for
the carriage of charterer’s goods, in that case charterer becomes nothing but
the charterer for the carriage of goods on any corner along the ship.
What is Affreightment, Consignor, ShipOwner?
Affreightment:
A contract to carry goods by SEA is called the contract of
affreightment. So, if there is an agreement happens in between two parties regarding carrying their goods by SEA, we would be calling it an Affreightment. There are two parties involved in such a contract such as,
- Consignor:
Consignor is the seller, or the sender who sells product to buyers through the carrier, or who sends goods to the buyer through ship owner or carrier.
- The Ship Owner:
Differences between Common Carrier Vs. Private Carrier
Common Carrier Vs. Private Carrier
|
Category
|
Common Carrier
|
Private Carrier
|
|
Definition
|
A Common carrier is one who is hired
and bound to carry goods of anyone from one place to another.
|
Private carrier is an occasional
carrier.
|
|
Compulsion
|
A common carrier is bound to carry
goods of anyone.
|
A private carrier is not bound to carry
goods of anyone.
|
|
Liabilities
|
The liabilities of a common carrier are
demarcated by the common carrier act of 1865.
|
A private carrier is not defined under
such act rather a private carrier is liable as a bailee as per the Indian act
of 1872.
|
|
Example
|
Public buses, railways, airplanes etc.
|
A private taxi cab.
|
What is Private Carrier?
Private Carrier:
A Private carrier is one who is an occasional carrier of
goods for money. A private carrier is not bound to carry the goods of anybody.
He or she might reject or accept the proposal or contract.
An example can be discussed i.e. Mr. A has a private car which is uses to roam around, and hang out with friends, but sometimes he carries goods or people to earn some extra cash based on necessity.
Thus, he is called to be a private carrier as because
this is not his regular business.
Physiognomies of private carrier:
ü
A private carrier is an occasional carrier,
ü
A private carrier doesn’t carry regularly,
ü
A private carrier is free to accept or reject
any goods of carriage,
ü
A private carrier is liable as a bailee under
the Indian contract act of 1872,
ü
Example:
A private taxi.
What is Common Carrier?
Common Carrier:
As per the Common Carrier Act of 1865, a common carrier can
be any individual, firm, or a company (other than the Government) who transport
goods, as a business, for money, over land or inland waterways, without
discrimination between different consignors.
·
Physiognomies of a common carrier:
- A common carrier can be an individual, a firm, or a company,
- Carrier of goods, so a carrier of passengers is not a common carrier,
- A common carrier carries goods for businesses, and for money.
- A common carrier is used to be ready to carry goods of any person without any discrimination,
- A common carrier deals with the carriage by land, and over inland waterways,
- A common carrier is kind of bound to carry the goods of any person,
- The liabilities of a common carrier are defined the common carrier act of 1865,
- Example would be Public buses, railways, airplanes, etc.
Who Is A Carrier?
It's a very important topic where unexpected misunderstanding comes a lot. Let's now get rid of our confusion regarding such a topic.
Carrier is a person, an organization, or a firm that carries
goods/passengers with an expressed or implied conduct along with or no
remuneration as well. So, carrier could be a person, it could be an
organization, or it could be a firm as well.
 |
| Person as a carrier |
Now, we can say that Government services are carrier if and
only if it comes within the definition given above such as Railway, State Transport Corporation, Etc.
Hope it helped!!!
Hope it helped!!!
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