Contract of IndemnityContract of Indemnity • May 16th, 2022
Contract of Indemnity is a type of contingent contract. The term ' indemnity' simply means 'make somebody safe' or 'paying somebody back'. A contract by which one party promises to save the other from loss caused to him by the conduct of promisor himself, or by the conduct of any other person, is called a contract of indemnity.