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        Indian Laws

        Section 124 - 'Contract of indemnity' defined

        Indian Contract Act, 1872
        Chapter VIII
        OF INDEMNITY AND GUARANTEE

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        Contract of indemnity: one party undertakes to save the other from loss arising from its own or others' conduct. A contract of indemnity is an agreement where one party promises to save the other from loss caused by the promisor's own conduct or by the conduct of any other person, thereby shifting specified economic consequences from the indemnified party to the indemnifier.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Contract of indemnity: one party undertakes to save the other from loss arising from its own or others' conduct.

                              A contract of indemnity is an agreement where one party promises to save the other from loss caused by the promisor's own conduct or by the conduct of any other person, thereby shifting specified economic consequences from the indemnified party to the indemnifier.


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