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Name: Vijay Chauhan

SAPID: 500054557
Roll no.: R155216047
Program of Study: Int. BBA., LL. B Spz Trade & Inv./ BFI

Abstract
On
Insurance & Indemnities - A Study under Indian Contract Act
Section 124 of Indian contract act, 1872 recognizes the contract of indemnity but in a narrower
perspective. It does not cover a promise to compensate for loss not arising due to human agency.
The main aim of research paper is to analyze both concepts under two societies which are India
and England which also successfully includes the liability of insurer and breach of fidelity
insurance contract in Indian context with a deep analysis of 13th law commission report of Indian
law commission. Also to evaluate the need of amendment in section 124 of Indian contract act,
1872. And all this done by taking certain documents and texts and graphs into consideration to
make the paper more effective.

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