Unit – 10 : Indemnities
Indian Contract Act
| Section | Description |
| 124 | Contract of Indemnity : A contract by which one party promises to save the other from loss caused by him by the conduct of the promisor himself, or by the conduct |
| of any other person. Person giving the promise is called the Indemnifier and the person whom the promise is made is called the Indemnified or Indemnity Holder. | |
| 125 | Rights of an Indemnity Holder when sued : The promisee in a contract of Indemnity, acting within the scope of his authority, is entitled to recover from the promisor – All damages which he may be compelled to pay in any suit, all costs, all sums. Above Rights of an Indemnify Holder is subject to: His acting within the scope of his authorityHe does not contravene the specific directions of the promisor |