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Special Contracts Indemnity The term ‘Indemnity` Simply means ‘Making Somebody Safe` or ‘Paying Somebody back`. Section 124 of contract Act defines that ‘‘A contract by which one party. Promises to save the other from loss caused to him by the conduct of the promise himself by the conduct of any other person, is called a conduct of indemnity”. The party...

Breach of Contract and Remedies   A breach of contract occurs when a party thereto renounces his liability under it, or by his own act makes it impossible that he should perform his obligations under it or totally or partially fails to perform such  obligations. The failure to perform or renunciation may take place when the time for performance has arrived or...

Performance of Contract Regarding the performance of contract Section 37 of the Act states that the parties to a contract must either (i) perform their respective promises or (ii) offer to perform the same; (iii) such performance is dispensed with or (iv) excused under the provisions of the Act or of any other law. Time and Place of Performance Sections 46-49 provide...

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