alleryStart learning →Which sections of the Indian Contract Act deal with indemnity?
ASections 124 and 125
BSections 126 to 129
CSections 130 and 131
DSections 145 to 147
Answer & Solution
Correct answer: A. Sections 124 and 125
Indemnity is covered by Sections 124 and 125, and guarantee begins from Section 126.
Keep practising Contract of Indemnity and Guarantee
Browse all Contract of Indemnity and Guarantee questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A promises to cover B against proceedings C may bring against B for 200 rupees. This is?Section 147 states that co-sureties bound in different sums are liable to pay how, within With bonds of 10,000, 20,000, 40,000 and a 40,000 default, what do the first two sureties Sureties with bonds of 10,000, 20,000, 40,000 face a 30,000 default. Each pays?Do co-sureties under separate contracts, unaware of each other, share equally?Sureties A, B, C agreed to bear 1/4, 1/4 and 1/2 of a 1,000 debt. What does C bear?A, B and C are sureties to D for 3,000 rupees lent to E, who defaults. With no contrary coCo-sureties for the same debt, absent a contrary contract, must contribute among themselve