Contrast between Contract of Indeminity and Gaurantee under Indian Contract Act

Twinkle Bhandari

Abstract: The research paper highlights the distinction between contract of Indemnity and Gaurantee as under Indian Contract Act. The research paper discusses about the rights of the parties under the Contract of Indemnity and Gaurantee. The paper also discusses types of contracts under Indemnity and the two types of Gaurantee in the Contracts of Gaurantee.

Keywords: Promisor, Promisee, Indemnifier, Indemnity holder, Surety, Creditor, Principal Debtor