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What is Understanding Indemnity in Contracts about?

An indemnity in a contract refers to a promise by one party to compensate another for losses or damages incurred from some action. It is considered primary liability rather than ancillary like a guarantee. Under Indian contract law, an indemnity is a promise to save another from loss caused by the promisor or another party. For an indemnity to be invoked, there must be a connection between the loss and the performance of duties under the contract. Simply being on the premises is not enough. An indemnity can

Author

Shaazim Shagar

Language

EN