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What rights does an indemnity holder have when defending a suit?
What is the duty of an indemnity holder?
Who is a holder of an indemnity contract?
What rights can an indemnity holder enforce against the indemnifier?
Sep 16, 2022 · The indemnity holder holds all the rights to recover all the costs incurred in the suit of indemnity from the indemnifier as it is their right to do so. The main essence of the contract of indemnity is to mitigate the losses incurred by the indemnity holder, and if some costs relating to a suit to the matter concerned arise, then the costs ...
- Rachit Garg
Jul 3, 2023 · Contents hide. 1. Who is an Indemnity Holder? 2. Rights of Indemnity Holder When Sued. 3. Indemnity Holder’s Right to Recover Damages. 4. Right of Indemnity Holder to Recover Costs Incurred. 5. Right of Indemnity Holder to Recover Sums Paid under Compromise. 6. Commencement of Liability of An Idemnifier. 7. Case Laws on Rights of Indemnity Holder.
May 13, 2021 · The duties of indemnifier are the rights of indemnity-holder. Section 125 , states the rights of indemnifier when sued by the third party to recover the damages, cost and all the sums as payable by him in any suit of any matter in which indemnifier promised him to indemnify him and he acted same as he was expected to act in case of absence of a ...
When parties expressly make a contract of indemnity, they can determine their own terms and conditions. However, sometimes they may not do so. In such a case, the indemnity holder can enforce the following rights against the indemnifier: 1) The indemnifier will have to pay damages which the indemnity holder will claim in a suit. 2) The ...
May 20, 2021 · When defending a suit, where the question of indemnity is being involved, the indemnity holder is granted a statutory right to claim all incidental costs and damages of the claim which he may be compelled to pay in a suit, from the indemnifier.
Jun 23, 2024 · Section 124 of the Indian Contract Act explicitly defines indemnity as a contract by which one party promises to save the other from any loss caused to him by the conduct of the promisor himself or by the conduct of any other person.
Jun 24, 2022 · The promisor comes to be known as the indemnifier, and the person to whom a promise is made is called the indemnity holder. Since a contract of indemnity is a form of contract, it must satisfy all the conditions of a valid contract as specified under Section 10 of the Indian Contract Act.
