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According to the Indian Contract Act, a contract of indemnity covers losses caused by:
- a)Accidents or natural calamities
- b)Human agency only
- c)The act of the promisor or any other person
- d)The act of the indemnifier only
Correct answer is option 'C'. Can you explain this answer?
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According to the Indian Contract Act, a contract of indemnity covers l...
The definition of a contract of indemnity as provided by the Indian Contract Act is more specific. It states that a contract of indemnity covers losses caused to the indemnified by the conduct of the promisor himself or by the conduct of any other person. This includes losses caused by human agency as well as accidents or natural calamities.Example: If A promises to indemnify B against any loss caused by the conduct of C or by a natural disaster, it means that A will compensate B for the loss suffered in either of these situations.
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According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer?
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According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer?.
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According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of According to the Indian Contract Act, a contract of indemnity covers losses caused by:a)Accidents or natural calamitiesb)Human agency onlyc)The act of the promisor or any other persond)The act of the indemnifier onlyCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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