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Under what circumstances can an indemnity agreement be considered valid?
  • a)
    When there is free consent and a lawful object
  • b)
    When there is coercion, fraud, or misrepresentation
  • c)
    When the object is against the law or public policy
  • d)
    When there is consideration and a lawful object
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Under what circumstances can an indemnity agreement be considered vali...
An indemnity agreement, like any other contract, is considered valid when there is free consent between the parties and a lawful object. This means that the parties must enter into the agreement willingly, without any coercion, fraud, or misrepresentation. Additionally, the object or purpose of the agreement must be lawful and not against the law or public policy.Example: If A and B freely agree to a contract of indemnity, where A promises to compensate B for any loss suffered, and the purpose of the agreement is legal, the indemnity agreement would be considered valid.
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Under what circumstances can an indemnity agreement be considered valid?a)When there is free consent and a lawful objectb)When there is coercion, fraud, or misrepresentationc)When the object is against the law or public policyd)When there is consideration and a lawful objectCorrect answer is option 'A'. Can you explain this answer?
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