Which of the following refers to a contract by which one party promises to save the other from loss caused to him by the conduct of the Promisor himself, or by the conduct of any other person'?A.Contract of guaranteeB.Contract of suretyC.Contract of indemnityD.Contract of liability
Question
Which of the following refers to a contract by which one party promises to save the other from loss caused to him by the conduct of the Promisor himself, or by the conduct of any other person'?A.Contract of guaranteeB.Contract of suretyC.Contract of indemnityD.Contract of liability
Solution
The correct answer is C. Contract of indemnity. This type of contract refers to a situation where one party promises to save the other from loss caused by the conduct of the promisor himself, or by the conduct of any other person.
Similar Questions
In case of breach of a contract, the _____ beneficiary can enforce the contract against the promisor and not the promisee.Multiple choice question.incidentalcreditordoneedebtor
Which of the following is a way a party’s contractual obligations can be discharged?Multiple ChoiceOne party has changed their mind about the contractThe failure of a condition to occurPersonality conflicts among the partiesDisagreement between the partiesUnhappiness with the contract terms
Contract is discharged by*Mutual consentPerformance and BreachLapse of time and operation of lawAll of the above
The liability of the partners for any contract is usually:Group of answer choicesa joint and several liabilityjoint liabilitynil. Partners are not liable for contracts that they did not sign as there is no agency relationship between the partnersdependent on the circumstances. Partners will only be liable to outsiders if the partner who signed the contract had actual authority to do so
The following is taken from Page 3 of Andrew Robertson and Jeannie Paterson, Principles of Contract Law (Thomson Reuters, 6th ed, 2020): [A]ccording to the classical understanding, a contract is an expression of the joint will of parties engaged in a transaction. On this view, contractual obligations are voluntarily assumed and sharply distinguishable from obligations imposed by the law of tort.Which one of the following is an UNACCEPTABLE reference for a student to include in their essay?Group of answer choicesThere is a significant distinction between obligations in contract law and obligations in the law of tort.11Andrew Robertson and Jeannie Paterson, Principles of Contract Law (Thomson Reuters, 6th ed, 2020) 3.Contractual obligations are voluntarily assumed and sharply distinguishable from obligations imposed by the law of tort.11Andrew Robertson and Jeannie Paterson, Principles of Contract Law (Thomson Reuters, 6th ed, 2020) 3.A contractual obligation is 'an expression of the joint will of the parties' which is 'voluntarily assumed' and very different form tort law obligations.11Andrew Robertson and Jeannie Paterson, Principles of Contract Law (Thomson Reuters, 6th ed, 2020) 3.The obligations under contract law are 'sharply distinguishable' from tort law obligations.11Andrew Robertson and Jeannie Paterson, Principles of Contract Law (Thomson Reuters, 6th ed, 2020) 3.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.