Unit 2- Contract of Indemnity & Guarantee

Distinction between Indemnity and Guarantee, Kinds of Guarantee, Rights of Surety, Liability of Surety, and Discharge of Surety.

Basis of Distinction Indemnity Guarantee Definition A contract where one party agrees to c...

A Guarantee is a legal commitment where one party (the guarantor) promises to fulfill the obligat...

A surety is a person who guarantees the performance of a contract or repayment of a debt by the p...

A surety is a person who guarantees the performance of a contract or the repayment of a debt by t...

The discharge of a surety refers to the termination of the surety’s liability under a contract of...