Section 124, of the Contract Act, define_________________?
Correct answer: C. Contracts of indemnity
- A. Contracts of minor
- B. Contracts of conditions
- C. Contracts of indemnity
- D. None of above
Explanation
Section 124 of the Contract Act, 1872 defines a contract of indemnity as an agreement in which one party promises to save the other from loss caused by the promisor or another person.
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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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