CLAIMING DAMAGES FOR LOSSES CAUSED BY THIRD PARTY ACTIONS OR COMPANIES

Indemnity can be defined as security or protection against a loss or other financial burden.

The legal protection of indemnity is under Section 124, Indian Contract Act. Under this section, one party of the contract of indemnity promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person.

 The present paper deals with the nature of contract of indemnity, claims from third party for their actions and how can the parties make such claims.

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