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hello friends today well talk about well discuss about indemnity contracts in the previous class we have seen quasi quarters contingent contract context all the tough topics but it is quite easy if you understand this sort of topics are going on indemnity contract many people will be scared by the word indemnity so nothing to worry indemnity contracts also very important contracts what is this induct intimate indemnity means making a loss good if any loss is going to come one party is saying dont worry Ill take care of this loss Ill make this loss as good means loss is converting into normal way no loss at all means indemnifying the loss means compensating the loss Ill give you much clarity suppose say is purchasing goods from B is purchasing goods from B then in such case say cease giving indemnity RC is saying to be dont worry let a to purchase the goods on credit basis not cash basis let him buy but Ill take care if he doesnt pay the amount if a is not going to pay the amo
