Contract of Indemnity vs. Guarantee: Kya hai difference?
contract general beginner doubtMain ekdum confuse ho gaya hoon yaar, koi bhi madad karega? Mere pas yehi samajh nahi aati hai. Mere college ka exam 2 mahine mein hai aur mera contract law mein ek question aane ki sambhavana hai, lekin main samajh nahi paya hai. Kya contract of indemnity ke liye guarantee ek alternative hai? Ya phir kuchh hi alag. Mera book mein yeh likha hai ki guarantee ek type of promise hai jo aadhaara par nirbhar karti hai, jabki indemnity ka base koi nahi. Toh kya guarantee ke base par contract of indemnity bhi bana sakte hain? Agar hain toh kaha hai? Pls help!
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Sabsey pehle, Guarantee ek type ka assurance hai jismein koi vishesh dhang ke adhikaro ko guarantee dete hain. Iske liye, guarantee dete wale ko apne property ya asset ko risk mein lana hota hai. Contract of Indemnity, to bas ek type ka insurance hai jiska vada karta hamesha apne responsibility se bachne ka hai. Woh koi dusre ka financial loss cover karta hai.