What is Indemnity?

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raja4uever

  • Nov 21st, 2007
 

An Indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B).

Methods of indemnity:- a. Payment of cash b. Repairs c. Replacement d. Reinstatement

Raja Mohamed
raja4uever@gmail.com

 

 

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