Economy, asked by achmad24221, 11 months ago

What is contract of indiminity?

Answers

Answered by irfan1728

Definition:. -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”.

Answered by brijeshsingh9061

Explanation:

indeminity is considered to be a contractual agreement between two parties where one party agrees to pay for potential losses or damage caused by another party.With indeminity the insurer indemnifies the policyholder that is promises to make whole the individual or business for any covered losses.

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