Indian Contract Act — Section 124
“Contract of indemnity” defined.—A contract by which one party promises to save the other
124.“Contract of indemnity” defined.—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 a “contract of indemnity”.
Illustration
A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain
sum of 200 rupees. This is a contract of indemnity.
Follow cited cases · Browse courts and years · Research topics
Judgments citing Section 124
- The Branch ManagerICICI Lombard General Insurance Company Limited v. Mariyapus
- ECGC LTD (FORMERLY KNOWN AS EXPORT CREDIT GUARANTEE CORPORATION LTD.) v. M/S INVENTION INDIA (EXPORTS) PVT. LTD.
- China Development Bank v. Doha Bank Q.P.S.C & Ors.
- High Court of Jammu & Kashmir and Ladakh · 2024
- M/s.ABG Ports Limited v. M/s.PSA International Pte Limited
- M/s. ACTAL v. M/s. India Infoline Limited
- Judgment · High Court · 2005
- Arundhati Hiralal Nanavati & Ors. v. Piroja A. Antia & Ors.
- July v. Advocate’s letter dated 18th July
- STATE BANK OF SAURASHTRA v. ASHIT SHIPPING SERVICES PVT. LTD.
- STATE BANK OF INDIA & Anr. v. MULA SAHAKARI SAKHAR KARKHANA LTD
- G. Varadhan v. M.Harigopal
- PHOENIX ARC PVT. LTD v. KETULBHAI RAMUBHAI PATEL
- ANUJ JAIN INTERIM RESOLUTION PROFESSIONAL FOR JAYPEE INFRATECH LIMITED v. AXIS BANK LIMITED ETC. ETC
- M/S. SUMITOMO HEAVY INDUSTRIES LIMITED v. OIL & NATURAL GAS COMPANY
Text reproduced from the public statutes on which the corpus is built. Verify against the official Gazette before relying on it. This is statute reference, not legal advice.