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Description:
Modern businesses use special contracts and innovate as needed, with indemnity agreements covering various risks from contracts and business actions. Bank and performance guarantees are common in commercial contracts. The concept of 'Pledge' in bailment law has become important for pledging shares to raise corporate loans. Hypothecation and hire-purchase are popular financing and security methods related to pledge. The agency plays a role in outsourcing and corporate interactions. Understanding the principles of special contracts is crucial for addressing current business challenges. The author explores British and Indian legal cases to clarify these principles in a narrative style.