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April 10, 2022

Contract of Indemnity
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‘Indemnity’, according to Longman’s Dictionary, means protection against loss, especially in the form of promise to pay, or payment for loss of money, goods, etc. In English law, a contract of indemnity refers to a commitment of protecting someone from the loss they might suffer as a consequence of an act. The definition of ‘indemnity’…

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Contingent Contracts
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The word ‘contingent’ means to be dependent or conditioned by some other event or fact. The contingent contract thus means a contract in which the enforceability of promise is conditional depending upon the occurrence of an event. According to Section 31 of the Indian Contract Act, 1872, ‘A contingent contract is a contract to do…

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