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प्रश्न
Legal Principle: The insurer agrees to pay no more than the actual amount of the loss.
Fact Situation: Sunny insures his car worth rupees five lakh with X, an insurance company, for its value. He again insures the same car with Y, another insurance company, on the same terms. There is an accident and the car suffers a total loss. In his separate suits against X and Y, if Sunny recovers rupees five lakh from X, how much can he recover from Y?
Which of the following statements is the most appropriate in relation to the legal principle stated above?
विकल्प
Sunny can recover rupees five lakhs from Y
Sunny cannot recover any amount from Y
Sunny must pay Y, the rupees five lakhs he received from X.
Sunny cannot insure his car with both X and Y at the same time.
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उत्तर
Sunny cannot recover any amount from Y.
Explanation:
The principle of indemnity asserts that on the happening of a loss the insured shall be put back into the same financial position as he used to occupy immediately before the loss. In other words, the insured shall get neither more nor less than the actual amount of loss sustained. This, of course, is always subject to the limit of the sum insured. Ongoing through the case we discover that Sunny had insured his car with two insurance companies and thus getting it insured at double the price of his car. on losing it completely he cannot claim more than 5lakh of rupees according to the above-mentioned rule thus option (b) is the most appropriate statement according to which if Sunny has claimed rupees 5lakh from x company then he cannot claim any amount from y company.
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संबंधित प्रश्न
The law of contract is nothing but
Agreement to murder a person
Given below is a statement of legal principle followed by a factual situation. Apply the principle to the facts and select the most appropriate answer.
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Factual Situation: The BCCI decided to hold an auction to sell IPL teams. 12 bidders registered for the auction. Unknown to the BCCI, these 12 bidders had entered into a contract that they would not bid more than a certain amount.
Given below is a statement of legal principle followed by factual situations. Apply the principle to the facts and select the most appropriate answer.
Principle: A contract requires a proposal and acceptance of the proposal. It is necessary to make a binding contract, not only that the proposal is accepted, but also that the acceptance is notified to the proposer.
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The following question consists of two statements, one labeled as ‘Assertion’ (A) and other as ‘Reason’ (R). You are to examine these two statements carefully and select the correct answer.
Assertion (A): A void contract is not necessarily illegal
Reason (R): Every illegal contract is void.
The question consists of legal propositions/principles (hereinafter referred to as 'principle') and facts. These principles have to be applied to the given facts to arrive at the most reasonable conclusion. Such principles may or may not be true in the real sense, yet you have to conclusively assume them to be true. In other words, in answering the following question, you must not rely on any principles except the principle that is given herein below for the question. Further, you must not assume any facts other than those stated in the question. The objective of this section is to test your interest in the study of law, research aptitude, and problem-solving ability.
Principle: When an offer is accepted by a person to whom it is made, it becomes a promise. But this promise will become legally binding only when the acceptance of the offer is unconditional.
Facts: Ram makes an offer to sell his house to Shyam for ₹50 lacs. Shyam accepts this offer but wants to pay the price of the house in five quarterly installments. Ram does not agree with it. Thereafter Shyam agrees to pay the price of the house in the way as originally desired by Ram. But Ram does not reply to it. Can Shyam compel Ram to sell his house to him?
Principle: Two or more persons are said to consent if they agree upon the same thing in the same sense. Consent is said to be free when it is not caused by coercion, or undue influence, or fraud, or misrepresentation, or mistake.
When consent to an agreement is caused by coercion, undue influence, fraud, or misrepresentation, the agreement is a contract voidable (rescindable or terminable) at the option of the party whose consent was so caused. However, when consent to an agreement is caused by mistake as to a matter of fact essential to the agreement, the agreement is void.
Facts: 'X' threatens to gun down 'Y' if he ('Y') does not sell his property worth ₹2000000 for ₹ 100000 only. As a consequence, 'Y' agrees to sell it as demanded by 'X'.
Which of the following derivations is correct?
Principle: Contract is an agreement entered into between the parties.
Factual Situation: Ramlal was a dealer in cement. The Government of India, by an order issued under the Essential Commodities Act, fixed the price of cement and also, the quantity which a person can buy from the dealer, Ramlal carried on his business under this new order for some time, but he refused to pay sales tax on his sales transactions on the ground that these were not the contracts freely entered into by him.
Decision
Given below is a statement of legal principle followed by a factual situation. Apply the principle to the facts given below and select the most appropriate answer.
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Factual Situation: A motor car was owned by and registered and insured in the name of A (wife) but was regarded by her and her husband (B) as "our car." B used it to go to work and A for shopping at the weekends. B told A that if ever he was drunk and unfit to drive through, he would get a sober friend to drive him or else telephone her to come and fetch him. On the day in question, the husband telephoned the wife after work and told her that he was going out with friends. He visited a number of public houses and had drinks. At some stage, he realized that he was unable to drive safely and asked a friend, C, to drive. C drove them to other public houses. After the last had been visited C offered the three friends (X, Y, and Z) a lift and they got in, together with B who was in a soporific condition. C then proceeded, at his own suggestion, to drive in a direction away from the B's home to have a meal, On the way, due to C's negligent driving, an accident occurred in which both B and C were killed and the other friends got injured. X, Y, and Z brought an action against the wife both in her personal capacity and as administratrix of the husband's estate. Decide whether A is liable.
Decision:
Principle: Property consists of the right to possess, the right to use, the right to alienate, and the right to exclude others. The sale is complete when the property gets transferred from the seller to the buyer.
Facts: ‘A’ sold his car to ‘B.’ B requested A to keep the car in his care on behalf B for one month. A agreed.
