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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.
Jul 2, 2021 · An indemnity holder has the option to seek recourse to other equitable remedies. These rights can be invoked only when the indemnity holder is sued. These three rights can be elaborated as: 1. Damages. The indemnity holder has the right to claim damages which he was compelled to pay in a lawsuit proceeding.
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.
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.
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 indemnity holder can even compel the indemnifier to pay the costs he incurs in litigating the suit.
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;
[2] This research work aims to understand what a legitimate contract entails and also strives to research and present a complete analysis of the Indian Law of Indemnity. This study examines various case laws concerning the concept of contractual indemnification.
Feb 1, 2023 · It further explains the rights and liabilities of the indemnity holder and indemnifier, along with the essentials of the contract of indemnity. Moreover, it examines the objectives, nature, parties, key differences with insurance, and landmark judgments of the contract of indemnity.
Rights of the indemnity holder The promisee has the following rights against the promisor in an indemnification contract if he acts within the scope of his authority: If the indemnity bearer acts within the scope of his power, he may recover the following amounts:
Oct 25, 2023 · Introduction. The contract of indemnity and the contract guarantee are the special contracts under the Indian Contract Act, 1872. The contract of indemnity is the contract where one person compensates for the loss of the other.
