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What are the rights of an indemnity holder?
Who has the rights in a contract of indemnity?
What are the rights of a promisee / a promisor / indemnity holder?
What rights can an indemnity holder enforce against the indemnifier?
Sep 16, 2022 · Rights provided to an indemnity holder under Section 125 of Indian Contract Act, 1872. Right to recover damages. Right to recover costs incurred. Right to recover sums paid under compromise. Are contracts of insurance indemnity contracts. When does the liability of an indemnifier commence.
- Rachit Garg
Jul 3, 2023 · The rights of an indemnity holder play a crucial role in ensuring their protection and compensation in a contract of indemnity. The rights of indemnity holder include the rights to recover damages, costs incurred in a suit, and sums paid under a compromise.
Rights of an Indemnity Holder. 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:
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.
Rights provided to an indemnity holder. The indemnity bearer is the benefit party in an indemnity agreement, and hence he holds the majority of the rights. An indemnity holder has the right to recover damages, expenditures spent in connection with action, and money paid under the complaint settlement.
Apr 12, 2020 · Section 125. Rights of indemnity-holder when sued. The promise in a contract of indemnity, acting within the scope of his authority, is entitled to recover from the promisor— (1) all damages which he may be compelled to pay in any suit in respect of any matter to which the promise to indemnify applies;
Section 125 in The Indian Contract Act, 1872. In the event of a lawsuit, the indemnity holder has specific rights. In an indemnity contract, the promisee has the ability to sue the promisor if he acts within the scope of his authority.
