Section 124 to 130
Chapter 8 Of indemnity and guarantee Section 124."contract of indemnity"defined ----- Ya GharA contact by which on party promise to save the other from loss caused to him by the contract of the promisor himself or by the contact of any other person Is called a contract of indemnity Illustrations 1.a contract to indemnity B against the consequences of any proceedings which c may take against b in respect of a certain sum of 200 rupees .this is a contract of indemnity A ------indeminifier B------indeminified Important facts 1.all the insurance policy is known as contract of indemnity except for life insurance and individual accident insurance .the promise of defendant is absolute Case name The new India insurance company limited versus state trading corporation of India ****************************** Such losses are included in contract of indemnity If losses or damage had been happend...