Section 124 of ICA : Section 124: "Contract Of Indemnity" Defined
ICA
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Explanation using Example
Imagine Sarah hires Tom to paint her house. They sign a contract where Tom agrees to indemnify Sarah for any damages or losses caused by his work. If Tom accidentally spills paint on Sarah's expensive carpet, Tom is responsible for covering the cleaning costs or replacing the carpet under the contract of indemnity.
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