Social Sciences, asked by pravin4289, 1 year ago

Characteristics of indemnity and guarantee

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Answered by ANIKETSINGH1111

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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 called a “Contract of Indemnity”. ... GUARANTEE Features Valid Contract ( essentials of Sec-10) Consideration for surety is loan given by creditor.

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