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
Define the term - social attainment and economic growth Many problems can also be seen either as private problem for those who experience them or as public policy failures that

Enumerate the Working of coordination mechanism Take interesting case which will clarify the working of coordination mechanism better. If a member State in EMU, defaults on it

Types of Precedents There a precedent may be as; A binding precedent here judge must tag along whereas he approves of it or not. Hence it is excludes his judicial discr

"Within a company there are many areas of potential disagreement among members. As the range of potential disagreement is very broad, so also is the scope for exploitation and abus

Two very important resolutions which had a great impact on description of terrorism UNSC has also declared incitement as an offence. The interpretation of terrorism formulated

QUESTION 1 Outline the procedure and criteria for the granting of recognition of representational status and recognition of negotiating rights QUESTION 2 (a) What do yo

Some of the hallmark events in the evolution of nuclear law are: a.   1945 - The United States tested its first nuclear bomb. b.   1945 - Hiroshima and Nagasaki were attacke

Self-Confidence: Entrepreneurs are self-confident and tackle problems immediately with confidence and are persistent in the pursuit of their objectives. Most are at their best in

Prospect of inflationary wage settlements The same logic can be applied to various supply side policies. Take, for example, the prospect of inflationary wage settlements. If w

Legal Protection  - significant instances: There are however a few but significant instances in which the Companies Act and the general law prescribe certain legal limits on t