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Presented to

Presented to. Respected Sir, Prof, Amir Faheem. Presented By. Mohsin Abbas 11309 Usman Ali Manzoor 11315 Abubakar Sadeeq 11361 Abid Farooq 11338. Performance of contract. Performance is actually completing the deal according to the terms given in the contract . Promisor

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  1. Presented to Respected Sir, • Prof, Amir Faheem

  2. Presented By • Mohsin Abbas 11309 • Usman Ali Manzoor 11315 • Abubakar Sadeeq 11361 • Abid Farooq 11338

  3. Performance of contract Performance is actually completing the deal according to the terms given in the contract. • Promisor • Promise

  4. Joint Performance • Join performance is same as performance but in this performance, more than one persons/parties are involves in one side or in both sides for performance of contract.

  5. Discharge Of Contract By Performance By Agreement Subsequent Impossibility

  6. Discharge of contract • Laps of time • Operation of law • Breach of contract

  7. Remedies of Breach of contract • Suit for recession • Suit for damages • Suit for quantum merit

  8. Remedies of Breach of contract • Suit for specific performance • Suit for injunction

  9. Indemnity “A contract by which one party promises to save the other party from loss caused to him by the conduct of Promisor himself or by the conduct of other person” Parties of indemnity • Indemnifier • Indemnity holder

  10. GUARANTEE

  11. Guarantee • “A contract of guarantee is contract to perform the promise or discharge the liability of third person in case of his default.” Parties of Guarantee • Surety • Creditor • Principal debtor

  12. BAILMENT

  13. Bailment • “A bailment is the delivery of goods by one person to another for some purpose, upon a contract that the shell be, when the purpose is accomplished be returned or otherwise dispose of according to the person delivering them.”

  14. PARTIES TO BAILMENT There are two parties in the contract of bailment: • Bailor: The person who delivers the goods is called bailor. • Bailee: The person to whom the goods are delivered is called bailee.

  15. Pledge

  16. Pledge • “The bailment of goods as security for the payment of debt or performance of a promise is called pledge” • Parties of Pledge • Pledger • Pledgee

  17. Agency

  18. Agency • The contract of relationship between an agent and his principal is called agency. • Agent An agent is a person employed to an act for another or to represent another in dealing with third party • Principal The person on whom such an act is done or who is so represented is called principal

  19. Partnership

  20. Partnership • “Partnership is an association of two to twenty people who carry on business together for the purpose of making profit”

  21. Registration • Name of business, partner names, and place etc • Partnership deed/agreement • Fee Paid challan • CNIC of partners and other relevant persons

  22. Characteristics • Large Capital: • Better decisions • Loan Facility • Division of Risk:

  23. Characteristics • Borrowing Power: • Unlimited Liability:  • Skills: • Easy Formation

  24. Dissolution Of Partnership The dissolution of partnership between all the partners of a firm is called the "dissolution of the firm"

  25. Dissolution Of Partnership • By agreement • By notice • Compulsory • Unlawful • Insolvency

  26. Dissolution Of Partnership • Contingent • Insolvency • Death of partner • Expiry of period • Competition of work • Dissolution by court • Breach of agreement • Unsound mind • Unable to perform duty • Misconduct • Transfer of share • Regular losses

  27. Division of assets/liabilities on dissolution of partnership • Pay outsider loans • Pay insider loans • Divide assets liabilities according to capital ratio • Remaining surplus after paying capital, divide according to profit ratio

  28. Thank You

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