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"A contract of fire insurance is a contract of indemnity and indemnity only" Comment.

Posted by User Unknown 5 years, 8 months ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 5 years, 8 months ago

Indemnity means when a person promises to save the other party from the loss caused from the conduct of promisor or by the conduct of any other person. And in the insurance of fire , insurance company promises to pay a certain amount when the property is destroyed by the fire.

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