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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?
पर्याय
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
Principle: An interest created, dependent upon a condition fails, if the fulfillment of the condition is impossible.
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Which of the following statements is the most appropriate in relation to the legal principle stated above?
The frustration of contract implies
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 A contract cannot be enforced by or against a person who is not a party to it. However, where some benefit is conferred on the third party by the contract itself, their third party can be allowed to enforce that contract to get such benefit.
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Mark the incorrect answer
The main purpose of the Law of Contract is
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Principle: Caveat emptor, i.e., 'let the buyer beware' stands for the practical skill judgment of the buyer in his choice of goods for purchase. It is the business of the buyer to judge for himself that what he buys has its use and worth for him. Once bought, and if the buyer is not up to his expectations, then he alone is to blame and no one else.
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Reason (R): A person who enjoys benefit from lawful, non-gratuitous acts of another must compensate him even though there is no contract.
LEGAL PRINCIPLE: A person is said to be of sound mind for the purpose of making a contract if, at the time when he makes it, he is capable of understanding it and of forming a rational judgment as to its effect upon his interests.
FACTUAL SITUATION: Mr. X who is usually of sound state of mind, but occasionally of unsound state of mind, enters into a contract with Mr. Y when he was of unsound state of mind. Mr. Y having come to know about this fact afterward, wants to file a suit against Mr. X.
DECISION:
