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      • There are two parties involved in the Contract of Indemnity. The two parties are: Indemnifier: Someone who protects against or compensates for the loss of the damage received. Indemnified/Indemnity-holder: The other party who is compensated against the loss suffered.
      blog.ipleaders.in/contract-indemnity-insurance/

      Contract of indemnity - iPleaders

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

    Feb 1, 2023 · A contract of indemnity is just like any other contract, and it must necessarily follow all the requirements of a valid contract. For instance, A fulfils B’s request for action. When A pledges to make up for B’s losses, if he incurs any, they imply the formation of an indemnity contract.

  4. www.drishtijudiciary.com › to-the-point › ttp-indianContracts of Indemnity and Guarantee - Drishti Judiciary

    Oct 25, 2023 · There are two parties in a contract of indemnity, namely the indemnifier and the indemnity holder. There are three parties in a contract of guarantee, namely the principal debtor, the creditor, and the surety. It consists of only one contract between the indemnifier and the indemnity holder.

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  6. www.legalserviceindia.com › legal › article-10545Contract of Indemnity: Introduction, Meaning it's overview ...

    In a contract of Indemnity,there are two parties. Indemnifier: A person who promises to indemnify or pay for the losses is known as indemnifier. Indemnified: A person for whom such a promise is made is known as indemnified or indemnity holder. Illustration:

  7. www.careers360.com › legal-studies › contract-ofContract of Indemnity - Overview, Structure, Properties & Uses

    Jul 25, 2024 · Parties involved in a Contract of Indemnity. The contract of indemnity consists of two parties the one party who promises to compensate the other party for the loss incurred is known as indemnifier and the other party who is indemnified or has sustained the loss is called indemnity holder.

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

    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 indemnity holder can even compel the indemnifier to pay the costs he incurs in litigating the suit.

  9. www.bimakavach.com › blog › what-is-a-contract-ofWhat is a Contract of Indemnity? Understanding Its Elements

    Oct 11, 2023 · The two main parties involved in a contract of indemnity are the indemnifier and the indemnity holder. The indemnifier is the party who agrees to compensate the indemnity holder for any losses they may suffer.

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

    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.