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What are the Key Features of a Contract of Indemnity and a Contract of Guarantee?
lex-o-pedia

What are the Key Features of a Contract of Indemnity and a Contract of Guarantee?

A contract of indemnity involves one party promising to compensate another for losses caused by their own or a third party’s actions. In contrast, a contract of guarantee involves a third party (the surety) ensuring the debtor's obligations are fulfilled.
What are the Key Features of a Contract of Indemnity and a Contract of Guarantee?
lex-o-pedia
Naina Chawla
What are the Key Features of a Contract of Indemnity and a Contract of Guarantee?
A contract of indemnity involves one party promising to compensate another for losses caused by their own or a third party’s actions. In contrast, a contract of guarantee involves a third party (the surety) ensuring the debtor's obligations are fulfilled.