The Importance Of Subrogation

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Importance of Subrogation: The expression of the word subrogation has different meaning in different legal systems. It is pertinent to state that it is principally concerned with the doctrine of subrogation according to the English common law and the way it is adopted under the Transfer of Property Act, 1882 enacted for India by the British. The Doctrine of Subrogation cropped up independently of the Roman law as a purely English law theory. It has its origins in the courts of equity. Buckland has expressed his view about subrogation by commenting on the Roman Equity that subrogation was a concept unknown to Romans in the manner in which it emerge in the English common law today. Subrogation under Roman Law was a term, which was well known in Constitutional Law, signifying the replacement of one official by another official or by replacement of their actions too. Buckland talks about the concept of subrogation in the Private Law wrote:
It is not until the time of
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In cases of insurance where a third party is liable to make good the loss, the right of subrogation depends upon and is regulated by the broad underlying principle of securing full indemnity to the insured on the one hand, and on the other of holding him accountable as trustee for any advantage he may obtain over and above compensation for his loss. Being an equitable right, it partakes of all the ordinary incidents of such rights, one of which is that in administering relief the Court will regard not so much the form as the substance of the transaction. The primary consideration is to see that the insured gets full compensation for the property destroyed and the expenses incurred in making good his loss. The next thing is to see that he holds any surplus for the benefit of the insurance
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