Contracts of Indemnity and Contracts of Guarantee

Contract of indemnity

1. There are 2 parties indemnifier and indemnity holder.
2. There is 1 contract between indemnifier and indemnified.
3. The nature of liability of indemnifier is primary and independent
4. In a contract of indemnity, the indemnifier promises without the request of debtor.
5. A contract of indemnify is for reimbursement.

Contract of Guarantee

1. There are 3 parties Creditor, Principal Debtor And Surety.
2. There are 3 contracts between creditor and principal, principal and surety, surety and creditor.
3. Liability of surety is Secondary.
4. Contract of Guarantee is for security of a debt or performance of promise.
5. Nature and Meaning of Contract of Indemnity.
    Nature and characteristics of contract of guarantee and its various types
    Contracts of Indemnity and Contracts of Guarantee
    Essential features of a wagering agreement
    What are mistake of fact and mistake of law?
    What is Quasi Contracts?
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