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What is Indemnity and Guarantee in Contracts about?

This document provides an overview of contracts of indemnity and guarantee under Indian law. It defines key terms like indemnifier, guarantor, and principal debtor. It explains that a contract of indemnity promises to save a party from loss caused by the promisor or others, while a contract of guarantee promises to perform or discharge the liability of a third party in case of default. The document outlines rules for contracts of guarantee and provides examples to illustrate these concepts. It concludes by

Author

Prithibi Ishrak

Language

EN