Law:

Section:

Keywords: Burden Of Proof, Quasi-Judicial, Imposition, Third Party, Contravention, Discharge, Non-Observance, Penalty, Obligation, Outstanding Amount, Property, Contentions, Remedy, Liability, Information, Fine, Registered, Bank Guarantee, Register, Prohibit, Illegal, Recovery, Government, Subject-Matter Of The Suit, Publication, Payment, Foreign Company, Registration Certificate, Insurer, Certificate, Receipt, Acquisition, Interpretation Of Statutes, Pledge, Examination, Set Aside, Consequences, Refund, Holidays, Mistake, In Lieu, Guarantee, Invalidity, Plea, Costs, Relief, Protection, High Court, Inter Alia, Certiorari, Validity, Consideration, Invalid, Division, Remittance, Period, Money, Foreign Companies, Registered Post, Insurance Business, Adjustment, Prohibition, Interpretation, Retrospectively, Proceedings, Goods, Third Parties, Contract, Claims, Legality, Order, Notification, Outside Pakistan, Parties, Compliance, Question Of Law, Issuance, Endorsement, Evidence, Province, Provisions, Possession, Cross-Examination, ProposalsResult: Suit decreedJUDGMENT This is a suit for the recovery of Rs. 40,392.55. The facts leading to the filing of the above suit are shortly, that the defendants wanted facility in payment of premium of the policies issued in their favour and a mutual arrangement was entered into between the parties under which it was agreed that the plaintiffs on the request and advice of the defendants would issue policies and undertake risk thereunder in respect of non-payment of the premium in advance and that the defendants would pay such premium afterwards on receiving statement/bills from the plaintiffs. It has also been averred that a collateral security for the payment of premium of the policies issued by the plaintiffs under the above arrangement, the defendants furnished a bank guarantee dated 10-5-68 from the Standard Bank Ltd. To the extent of Rs. 9,000 for the period expiring on 9-11-196 1, but the plaintiffs did not enforce the above bank guarantee on the understanding given by the defendants that they would pay the premium in due course under the arrangement. It has been further averred that in furtherance of the above…

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