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  • Assignment 3 of Business Law

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    Suvana Yasmin
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    1. Indemnity and guarantee differ in that indemnity involves reimbursing a party for loss or damage, while guarantee involves promising to fulfill another's obligation if they fail to do so. 2. The liability of an indemnifier is primary and independent, while the liability of a guarantor is secondary to the principal debtor. 3. An indemnifier's liability exists from the moment of loss or damage occurring, while a guarantor's liability only crystallizes if the principal debtor fails to perform their obligation.

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    1. Indemnity and guarantee differ in that indemnity involves reimbursing a party for loss or damage, while guarantee involves promising to fulfill another's obligation if they fail to do so. 2. The liability of an indemnifier is primary and independent, while the liability of a guarantor is secondary to the principal debtor. 3. An indemnifier's liability exists from the moment of loss or damage occurring, while a guarantor's liability only crystallizes if the principal debtor fails to perform their obligation.

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    © All Rights Reserved
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    6 views2 pages

    Assignment 3 of Business Law

    Uploaded by

    Suvana Yasmin
    1. Indemnity and guarantee differ in that indemnity involves reimbursing a party for loss or damage, while guarantee involves promising to fulfill another's obligation if they fail to do so. 2. The liability of an indemnifier is primary and independent, while the liability of a guarantor is secondary to the principal debtor. 3. An indemnifier's liability exists from the moment of loss or damage occurring, while a guarantor's liability only crystallizes if the principal debtor fails to perform their obligation.

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    of 2

    Aiannment

    G.Disttnguish btuoeen
    O Indemnity oand Guooantee
    GuOrantie
    Indemnüit
    Thoe av hse portis
    only poctios
    ivelvecl namcy he toyelveol nomely
    -

    cLditon,
    ano uul
    in lem nikfo andl the principa olsbtori
    in dem ni ed nuaanlan

    The
    n Liabiltty o the indamnie The liabilitu a e uu
    Simasuy andl independannt issecondouy os the pumo
    iability k the prunipal

    delton
    a T h oLe uorka,
    The liability indamnit"
    obily abuody bn existence
    on h happensn
    happerina
    out &peiically crstallizes
    O coningeny
    ohen labtori hails
    pknäpal

    T r n demnitf nLed not COs quanantio/uudy


    necesatily act at h e Hequst| must act lou e e elonding
    V

    inolemnitfd
    debtort.
    Baiiment no Pledo

    Bailment plod
    nequlato bailmant Pledo. , a
    vonuy alnsnd
    bailes p th
    N Onden ledoe, gorris at bailed
    Ppac han
    above. The oailee tok3
    hamO posotrno n 6k a pHomise.
    Hepavls, 2ahe cwstodly etc.

    InbailmenF he bailse The pledge enoythe ugt to


    tntally Connot s l he
    godeds, 3el onla on daault lox th
    He Can ithl utan on a e
    pledac on torapo w dabt
    nonnon- paymart ol dues
    OH pOom his pHonise, thot to

    notice
    ny iig dua
    A loaile con, t he tums Pledoa has a ioht To

    opuDVide, we th 0ods
    acods
    A A bailmnt thuou ma om ma Tn pledgu,tu L aluoaus a

    not be Conidoctiom Considoohn.

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