Indian Contract Act : "Contract of indemnity" defined Indian Bare Acts :

Indian Contract Act,1872

Act No : 9

Section : "Contract of indemnity" defined

124."Contract of indemnity" defined.-A contract by which oneparty promises to save the other from loss caused to him by theconduct of the promisor himself, or by the conduct of any otherperson, is called a " contract of indemnity". Illustration A contracts to indemnify B against the consequences of anyproceedings which C may take against B in respect of a certain sum of200 rupees. This is a contract of indemnity.