Question

Contract of Indemnity and Guarantee and Bailment​

Answer 1

Answer:

A contract of guarantee always has three parties; they are, the creditor, the principal debtor and the surety; whereas a contract of indemnity has two parties, the indemnifier and the indemnity holder. ... In a contract of indemnity, there is a single promise or contract; a promise to pay if there is a loss.F

Explanation:

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