Contracts of Indemnity & Guarantee. Contracts of indemnity.
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2.Indemnifier promises to save indemnity holder from the loss caused to him by the conduct of the promisor , or by the conduct of any other person.
3.Contract may be expressed or implied.
4.Liability of indemnifier commences when the indemnifier suffers some loss according to the terms and conditions of the contract.
5. Contracts of insurance are also covered in this.
Section 125 states rights ---