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.
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.
