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______________?
Correct answer: D. Contract of indemnity
- A. Surety contract
- B. Simple contract
- C. None of above
- D. Contract of indemnity
Explanation
Section 124 defines indemnity as a promise to save another from loss caused by the promisor or by another person. A surety contract instead concerns liability for a third person's default.
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Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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