Right and Duties of Indemnified and Indemnifier ?
INDEMNIFIER An i ndemnifier is the party who promises to compensate another party (the indemnitee or indemnity holder) for a loss, damage, or liability incurred as per contract. The major right of indemnifier are :- a. The indemnifier can recover any amount paid by the indemnified person without legal necessity. b. Right to benefit of remedies after paying compensation, the indemnifier can use the legal rights and remedies of the indemnified against third parties. c. The indemnifier may take reasonable steps to prevent unnecessary loss or damage. d. The indemnifier is not liable if loss done by indemnified intentionally. e. Right to deny if Indemnity holder worked negligently. The major duties of indemnifier are :- a. Duty to compensate Loss b. Duty to pay damages of indemnity holder c. Duty to pay legal costs paid by indemnity holder d. Duty to pay settlement amount as par law e. Duty to act in good fait...