UPSC Mains Law Paper Topic : Contract of Indemnity, Guarantee and Insurance

NEW! UPSC MAINS G.S. SOLVED PAPERS (LAST 15 Years)

“Every contract of guarantee is a contract of indemnity but every contract of indemnity is not a contract of guarantee.” Elaborate. ‘A’ and ‘B’ go to a shop. ‘A’ says to the shopkeeper, “let B take goods from your shop and if he does not pay, I will pay”. What kind of contract is this? Give reasons. (08/II/6b/30)
Liability of the surety is secondary.” Comment. (08/II/5c/20)
Distinguish between the following, citing relevant provisions/case laws : ‘Contract of indemnity’ and ‘Contract of guarantee’. (09/II/8a/20)
What do you understand by a promissory Note? Discuss. (10/II/5c/15)
There can be no contract of guarantee unless there is someone primarily liable.” Comment. (11/II/5b/15)
Indemnity’ has relation to the conduct either of the indemnifier himself or of a third party. A ‘Guarantee’ is always related to the conduct of a third party.” Elucidate (13/II/5a/10)