Question

Define contract of indemnity and guarantee.

Answer 1

Contract Of Indemnity And Law OfGuarantee. ... "Contract of indemnity"defined.-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".

Answer 2

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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".

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