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Contracts Act · s 77
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Contracts Act · s 77
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
A contract by which one party 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, is called a “contract of indemnity”.
Illustration
A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum of $200. This is a contract of indemnity.