Correct option is A
Section 124 of the Indian Contract Act defines a
contract of indemnity as one in which a person promises to save the other from any loss caused to him by the conduct of the promisor or any other person. The indemnity here pertains to losses caused by human conduct, such as misfeasance, non-performance, or wrongful actions.
Information Booster:
A contract of indemnity focuses on protection against losses arising from actions, typically those caused by other parties. This could include loss from legal actions, contractual breaches, or other human activities. It does not cover natural events or accidents, as these do not involve human agency.
Additional Knowledge:
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Losses caused by accident (b): This would fall under insurance contracts rather than indemnity contracts.
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Losses caused by natural calamity (c): These are typically covered by insurance policies or other forms of compensation.
