Question

Point out the difference between a contract of indemnity and a contract of guarantee

Answer 1

Answer:

Explanation:Indemnity is if it breaks we we''ll fix (for example)

whereas guarantee means we guarantee that this will not break !

Answer 2

Answer:

Explanation:

Indemnity is when one party promises to compensate the loss occurred to the other party, due to the act of the promisor or any other party. On the other hand, the guarantee is when a person assures the other party that he/she will perform the promise or fulfill the obligation of the third party, in case he/she default.