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CONTRACT OF INDEMNITY
What is a contract of indemnity as defined under the Indian Contract Act, 1872?
A contract of indemnity is a contract by which one party (indemnifier) promises to save the other (indemnity holder) from loss caused by the promisor's conduct or by the conduct of any other person.
Which section of the Indian Contract Act, 1872 defines a contract of indemnity?
Section 124 defines contract of indemnity.
Under which section of the Indian Contract Act, 1872 is a contract of indemnity defined?
A contract of indemnity is defined under Section 124 of the Indian Contract Act, 1872.
Who is the party that promises to compensate the loss in a contract of indemnity?
The indemnifier promises to compensate the loss.
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