Latest Judgments On Hypothecation Agreement
- September 25, 2021
The authors argue that the violation of such ceilings should instead be reduced to the nullity of the loan agreement, which bases its position on the interpretation of Article 117 of the Italian Banking Law, according to which the Bank may require Italy to have a typical form and content defined in advance and that in the event of an infringement, the contracts in question must be considered invalid. However, the case-law has so far held that the provisions relating to the credit address laid down in Article 38 of the Italian Banking Law do not fall within the fall within the reach of Article 117 and that, consequently, their infringement would not entail nullity. . Kulathungal Motors remained ex-parte. Counterparties 1 and 3 challenged the alleged lack of performance. They asserted that the complainant had entered into the facility agreement in which he was committed. As the above-mentioned monthly instalments were not paid on the scheduled dates, the respondent submitted arbitration proceedings. . Mohan, C.J.: – The first respondent borrowed from the complainant – Co-operation Bank an amount of 1,45,000 / – to enable her to purchase a motor vehicle. There was an agreement on the mortgage.
in accordance with the provisions of clause 5 of the seizure agreement, the complainant – bank seized the vehicle. As regards seizure, a dispute was brought under Article 70(2) of the. the bank, within the meaning of section 176 of the Indian Contract Act, in conjunction with clauses 5 and 10 of the seizure contract, any right to seize the vehicle. . . .