124. “Contract of indemnity” defined.
A contract by which one party promises to save the other from loss caused to him by the contract 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 of 200 rupees. This is a contract of indemnity.
Read Contract Act in a systematic way.
Read Contract Act each section wise.
Download beautiful, mobile friendly Contract Act PDF.
WritingLaw offers important Bare Act PDFs, Law Notes, Law Q&As, Law Articles, Law MCQ Tests, and more.
Latest posts by WritingLaw (see all)
- Section 70 BNS (Bharatiya Nyaya Sanhita) - 1st January 2026
- Section 71 BNS (Bharatiya Nyaya Sanhita) - 1st January 2026
- Section 72 BNS (Bharatiya Nyaya Sanhita) - 1st January 2026
