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Indemnity

B assured A to compensate him for any legal charges he has to undertake. What's the consideration for B in this case?

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Aman Mahajan

Aman Mahajan

CA Inter

18K+

22-Jan-21 16:33

12

Answers (1)

Hi, that was a very basic example to explain it in simple terms. We may also question whether there was an intention to create legal obligations. Nevertheless, there could be real intention and real consideration in some cases. Ideal and practical example is that of non-life insurance â?? case of Puja and Insurance company. Happy studying!


Sahibdeep Singh

Sahibdeep Singh

Moderator

23-Jan-21 07:54