The Act provides for responsibility of the seller to ensure that goods sold are of merchantable quality and are fit for the purpose for which they are required by the buyer etc. The Act has relevance to products liability insurance.
Insurance Encyclopedia
Act: Shop and Establishment Act
Every State and Union Territory of India has its own Act providing for registration of the Shop/Establishment.
Act: The Multimodal Transportation of Goods Act, 1993
An Act aimed at developing international multimodal transport which would reduce logistics costs and thus make Indian products more competitive in the global market. The Act established licensing requirements, contractual terms (through the Multimodal Transport Document) and liability regime. The Act was again amended in year 2000 to give more protection to exporters. India allows 100% FDI in maritime infrastructure like ports, terminals, jetties, harbors, merchant shipbuilding as well as in support infrastructure like warehousing, roads and Inland Water Transport.
Act: The Public Liability Insurance Act, 1991
This is an Act to provide for compulsory public liability insurance for the purpose of providing immediate relief to the persons affected by accident occurring while handling any hazardous substance and for matters connected therewith or incidental thereto. The Act gives relief on principle of No Fault and prescribes the limits of relief for death, injury, property damage etc.
Act: Water (Prevention and Control of Pollution) Act, 1974
The Central and State Pollution Control Boards are established under this Act. The function of the Board, inter alia, is to control sewage and industrial effluent discharge. The consent of the Board is required to establish any industry which is likely to discharge sewage or trade effluent.
Act: Workmen’s Compensation Act now changed as Employees Compensation Act 2011
The Worker’s Compensation (Amendment) Act, 2009 is now renamed as the Employees’ Compensation (Amendment) Act, 2009 and wherever “workman” or “workmen” is mentioned in the entire Act the same needs to be read as “Employee. (2) The compensation payable on death from the injury, is (i) minimum of Rs. 80000 is increased to Rs. 120000 or (ii) 50% of the monthly wages of deceased multiplied by the relevant factor. (3) The compensation payable on Permanent Total Disablement from the injury, is (i) minimum of Rs. 90000 is increased to Rs. 140000 or (ii) 60% of the monthly wages of deceased multiplied by the relevant factor.
Actio personalis moritur cum persona
A personal action dies with the person,’ meaning that, at common law, a right of action in tort ceases on death of the claimant or defendant. Following the Law Reform (Miscellaneous Provisions) Act 1934, causes of action survive death and keep claims alive on both sides. Liability insurers grant an indemnity to a deceased insured’s legal personal representatives.
Action
A lawsuit involving the right of one party to recover from another person in a court of law.
Action Ex Contractu
An action or lawsuit based on breach of a promise made in a legal contract. The promise may be expressed or implied.
Action Ex Delicto
An action in tort involving damages demanded for a breach of a duty.