Contracts of indemnity, Business Law and Ethics

Contracts of Indemnity

Indemnity is the undertaking about primary responsibility to see like a certain act is performed there.If a particular contractual promise such constitutes an indemnity depends upon the words that utilized to express the objective of the parties. "Considered Onyango has the goods, and then I will see you paid about", such these words would lawfully constitutes a contract of indemnity there.

However a contract of indemnity differs from such a guarantee in the subsequent respects: like;

(a)There are just only two parties so.
(b)Whether the person giving such the indemnity is primarily liable and whether as there is no secondary liability.
(c)The human being giving the indemnity such has some interest in the transaction apart whereas from his indemnity.

Posted Date: 2/2/2013 7:44:37 AM | Location : United States

Related Discussions:- Contracts of indemnity, Assignment Help, Ask Question on Contracts of indemnity, Get Answer, Expert's Help, Contracts of indemnity Discussions

Write discussion on Contracts of indemnity
Your posts are moderated
Related Questions
Pre-incorporation Contracts:                             A pre-incorporated contract is an agreement which is entered into, usually by a promoter or promoters, on behalf of a

Discuss the roles of law and courts in today''s business environment. •Compare and contrast the federal court structure with your Florida''s court structure. •Discuss the concept

QUESTION The Employment Rights Act provides- No employer shall terminate a worker's agreement for reasons related to the worker's misconduct unless the worker has been affor

Rules of Delivery of Goods - Sales of Good So the rule regarding with delivery are like; (a)  The goods should be in a deliverable state and one is (b) Otherwise unless l

LEGAL LIABILITY FOR LABORATORY ACCIDENTS IN EDUCATIONAL INSTITUTIONS : As mentioned in some of the earlier sections, law is not directly available to decide legal liability for la

Illustrate the example of the Policy Clustering Countries democratize because of political or economic pressures within their country pressures that exist simultaneously for le

Exceptions to the doctrine of Privity of contract Further there are a number of exceptions to the privity of contract rule of which the subsequent may be stated: (a) Agenc

Rights of Guarantor Against Creditor Consequently the rights of the guarantor are: like (a) Further at any time after that the guaranteed debt such has become due and such prev

Rights of inspection: The registers and documents are subject to the following rights of inspection: (a)     The company's members are entitled to inspect them, free of cha

Requisites of Acceptance - Rules Relating To Acceptance Section number S.17 (2) provides like an acceptance is invalid unless since it complies with the following conditions: