International Journal of All Research Education & Scientific Methods

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ISSN: 2455-6211

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A Study of Contract of Indemnity and Contract...

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A Study of Contract of Indemnity and Contract...

A Study of Contract of Indemnity and Contract of Insurance

Author Name : R. Pushpavalli

ABSTRACT

Contract of insurance and contract of indemnity are the species of a same genus.  All contracts of insurance are not contracts of indemnity. But all general insurance contracts are contracts of indemnity under section 124 of Indian contract Act is questionable one. In this paper, I proposed that the section 124 and 125 of Indian contract Act are applied to contract of insurance (except life insurance) also.

Keywords: Contract, Indemnity, Insurance. Liability