2024年12月21日 · A contract of Indemnity is a contract, express or implied to keep a person, who has entered into or who is about to enter into, a contract or incur any other liability, indemnified against loss, independent of the question of whether a third person makes a default.

2023年2月1日 · As per Section 124 of the Indian Contract Act, an agreement by which one party promises to save the other from loss caused to him by the conduct of the promisor himself or by the lead of someone else is classified as “Contract of Indemnity”.

In law, Contract of indemnity can be defined as a legal contract between two persons whereby one party commits to indemnify, i.e. to compensate or reimburse, the loss incurred to the other party, by the conduct of the party, who is making the promise or by the conduct of the third party.

Section 124 - A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself or by the conduct of any other person is a "contract of Indemnity".

2022年5月19日 · In a contract of indemnity one party – i.e., the indemnifier promises to compensate the other party i.e., the indemnified against the loss suffered by the other. The English law definition of a contract of indemnity is – “it is a promise to save a person harmless from the consequences of an act.”

2024年2月25日 · Indemnity is a comprehensive form of insurance compensation for damage or loss. In an indemnity arrangement, one party agrees to pay for potential losses or damage caused by another party.

2021年5月14日 · An indemnity agreement, also known as a hold harmless agreement, waiver of liability, release of liability, or no-fault agreement, safeguards the indemnified party against loss or damages associated with a third-party business arrangement.