Nature and Extent of Liability of Surety

Indemnity, Guarantee , Bailment, Pledge, Agency, Partnership and Sale of Goods

In this article we will discuss the nature and extent of liability of surety in detail and try to measure the maximum extent of surety’s liability. Contract of guarantee A contract of guarantee is precisely stated under Section 126 of the Indian Contract Act, 1872. According to this section, a contract of guarantee can be understood as a … Read more

What is Contract of Guarantee?

Indemnity, Guarantee , Bailment, Pledge, Agency, Partnership and Sale of Goods

Contract of Guarantee Section 126 of the Indian Contract Act, 1872, defines a contract of guarantee as under : “A “contract of guarantee” is a contract to perform the promise, or discharge the liability, of a third person in case of his default.” The Section further provides that: “The person who gives the guarantee is … Read more

Weekly Legal Updates (29 January 2023 to 4 February 2023)

Weekly Legal Updates

Weekly Legal Updates main objective is to update the legal knowledge of law students, lawyers, academicians and other professionals. If we do not update our legal knowledge regularly, our knowledge becomes redundant. Every breach of promise to marry is not rape – Supreme Court. [Naim Ahamed versus State (NCT of Delhi)  Criminal Appeal no. 257 … Read more

Weekly Legal Updates (22 January 2023 to 28 January 2023)

Weekly Legal Updates

Weekly Legal Updates main objective is to update the legal knowledge of law students, lawyers, academicians and other professionals. If we do not update our legal knowledge regularly, our knowledge become redundant. Law Minister Questions SC Collegium again by using the video of the former High Court Judge As there is the ongoing fiction between … Read more

When can an indemnifier be made liable ?

Indemnity, Guarantee , Bailment, Pledge, Agency, Partnership and Sale of Goods

In this article we will discuss two important points one is when can an indemnifier be made liable? second is can he claim to be indemnified before he is demnified ? There has been a controversy regarding the point, as to whether the indemnifier can be asked to indemnify before indemnity-holder has actually suffered the … Read more

Contract of Indemnity and Insurance

Indemnity, Guarantee , Bailment, Pledge, Agency, Partnership and Sale of Goods

According to Section 124 of the Indian Contract Act, 1872, a contract of indemnity means “a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself or by conduct of any other person.” This provision incorporates a contract where one party promises to … Read more

What is contract of indemnity?

Indemnity, Guarantee , Bailment, Pledge, Agency, Partnership and Sale of Goods

According to Longman’s Dictionary of Contemporary English meaning, indemnity is protection against loss, esp. in the form of a promise to pay, or payment for loss of money, goods, etc. According to Chambers New English Dictionary, “Indemnity is a security against, or compensation for loss, etc.” For instance, A contracts to indemnify B against the … Read more