Difference Between Contract of Indemnity and Contract of Guarantee | The Indian Contract Act, 1872

Contract of Indemnity and Guarantee are the specific types of contracts provided under sections 124 to 147 of the Indian Contract Act, 1872. In addition to the specific provisions (i.e. Section 124 to Section 147 of the Indian Contract Act, 1872), the general principles of contracts are also applicable to such contracts.
Even though both the contracts are modes of compensation based on similar principles, they differ considerably in several aspects.
Let us discuss the difference between contract of indemnity and contract of guarantee
___________________________________________________________________________
✅ Visit my website for FREE Unit-wise test paper - theorymastersl...
✅ For Law Compiler visit: theorymastersl...
✅ For Test Series visit: theorymastersl...
✅ Click for Doubt Solving Forum - theorymastersl...
DO SUBSCRIBE FOR MORE VIDEOS ❗️
-----------------------------------------------------------------------------------------------------------
Follow 𝗧𝗵𝗲𝗼𝗿𝘆𝗺𝗮𝘀𝘁𝗲𝗿𝘀 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴 For More Updates :
► Facebook - / ca-preeti-ag. .
► Instagram - / theorymaste. .
► Join our WhatsApp group- shorturl.at/zDVXZ
► Join our telegram channel -
t.me/cainterla...
t.me/cafoundat....
#ContractofIndemnity#Contract of Guarantee#CALaw#LawStudents#theorymasterslearning#theorymasterlearning#preetiaggarwal#