CA Foundation Contract of Indemnity and Guarantee — practice questions

Explore 2 free Contract of Indemnity and Guarantee questions in CA Foundation Business Laws. Open each question or exercise to read its content, reference answers and available explanation.

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Contract of Indemnity and Guarantee questions and exercises with answers

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Indemnity or guarantee?Read the answer and worked solution →Match each party to a guaranteeRead the answer and worked solution →

Worked practice questions

Indemnity or guarantee?

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Items

Item
Two parties only
Category
Indemnity
Item
Saves from loss
Category
Indemnity
Item
Loss may not come
Category
Indemnity
Item
Three parties
Category
Guarantee
Item
Surety involved
Category
Guarantee
Item
Third party fails
Category
Guarantee

Categories

Item
Indemnity
Item
Guarantee

Instructions

Tap a description, then tap the contract it belongs to.

_Source: The Indian Contract Act 1872 bare act, 124. "Contract of indemnity" defined_

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Match each party to a guarantee

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Matching pairs

Left
Surety
Right
The person who gives the guarantee
Left
Principal debtor
Right
The person whose default is guaranteed
Left
Creditor
Right
The person the guarantee is given to

Instructions

Tap a party on the left, then tap the role it plays.

_Source: The Indian Contract Act 1872 bare act, 126. "Contract of guarantee", "surety", "principal debtor" and "creditor" -_

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