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1. • • Indemnity stipulates that the party who will be indemnified will not be required to pay at any time. As a result, the indemnifier’s liability begins the moment the loss or damages in the form of liability to the indemnified become absolute and limitless.
     www.lawcolumn.in/indemnity-under-indian-contracts-act-1872/

     INDEMNITY UNDER INDIAN CONTRACTS ACT, 1872 - Law column

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   What is the commencement of liability in an indemnity agreement?

   • The commencement of liability in indemnity agreements is a crucial aspect that determines when the indemnifier becomes obligated to pay and when the indemnity-holder is entitled to recover their indemnity. Traditionally, under English common law, indemnity was payable only after the indemnity-holder had suffered actual loss by paying off the claim.

   Indemnity under Indian Contract Act - De Facto Law

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   When does a contract of indemnity commence?

   • There is no stable position on the issue of the commencement of liability under the contract of indemnity. In England, indemnity liability arises only when the indemnity holder suffers a loss. On the contrary, the Indian Contract Act is silent on this matter. This is further discussed below.

   Contract of indemnity - iPleaders

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   When does the indemnity holder's liability begin?

   • As a result, the indemnifier’s liability begins the moment the loss or damages in the form of liability to the indemnified become absolute and limitless. The following are the losses or damages resulting from the indemnity holder’s violation of contract or rights under Sec.125 of the Indian Contract Act 1872:

   INDEMNITY UNDER INDIAN CONTRACTS ACT, 1872 - Law column

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   What is extent of liability in contract of indemnity?

   • Extent of liability in Contract of Indemnity Section 125 lays down the extent of liability or the rights available to the indemnity-holder. The promisor shall be liable in any event whether or not the promisee makes default. The promisee is entitled to recover damages that he was compelled to pay in a suit for which he was being indemnified-

   Contract of Indemnity - LawBhoomi

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3. blog.ipleaders.in › contract-indemnity-insuranceContract of indemnity - iPleaders

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   Feb 1, 2023 · Commencement of liability under the contract of indemnity. There is no stable position on the issue of the commencement of liability under the contract of indemnity. In England, indemnity liability arises only when the indemnity holder suffers a loss. On the contrary, the Indian Contract Act is silent on this matter. This is further discussed ...

4. www.defactolaw.in › post › indemnity-under-indianIndemnity under Indian Contract Act - De Facto Law

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   Jun 23, 2024 · The commencement of liability in indemnity agreements is a crucial aspect that determines when the indemnifier becomes obligated to pay and when the indemnity-holder is entitled to recover their indemnity.

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6. theindianlaw.in › contract-of-indemnityContract Of Indemnity - The Indian Law

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   Apr 7, 2021 · Commencement Of Liability. An important question arises when does the indemnifier become liable to pay or when is the indemnity-holder is entitled to recover his indemnity. In English law, indemnity was payable only after the indemnity-holder had suffered actual loss by paying off the claim.

7. lawbhoomi.com › contract-of-indemnity-meaningContract of Indemnity - LawBhoomi

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   Jan 26, 2021 · Contract of Indemnity is a contract, express or implied to keep a person, who has entered into or who is about to enter into, a contract or incur any other liability, indemnified against loss, independent of the question whether a third person makes a default.

8. getlegalindia.com › contract-of-indemnityCovering Losses and Lowering Risks: Contract of Indemnity

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   Parties to Contract: A contract must have two parties, namely the promisor (also known as the indemnifier) and the promisee (also known as the indemnified or indemnity-holder). Protection against Loss: A contract of indemnification is made to shield the promisee against loss.

9. www.toppr.com › contract-of-indemnityContract of Indemnity - Toppr

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   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. 3) If the parties agree to legally compromise the suit, the indemnifier has to pay the compromise amount.

10. www.lawcolumn.in › indemnity-under-indianINDEMNITY UNDER INDIAN CONTRACTS ACT, 1872 - Law column

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    Dec 3, 2021 · LIMITATION OF LIABILITY AND EXCLUSIVE REMEDY INDEMNIFICATION CLAUSE. To legally determine the scope of culpability, parties can agree to limit their disclosure to a well-drafted, essentially finite indemnity agreement that is mostly impervious to court judgement. As an example, consider the following: