Legislative Dictionary - C
Judicial Dictionary
Legislative Dictionary
Contract of Indemnity
| Category | C |
|---|---|
| Title | Contract of Indemnity |
| Details | 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."
Illustration A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum 200 taka. This is a contract of indemnity. [See section 124, the ContÂract Act,1872 (Act No. IX of 1872)]. |
| Created On | June 1, 2011, 2:12 PM |
| Hits | 453 |