Indemnity and Guarantee in Contract Law Quiz
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Questions and Answers

What is the duty to indemnify usually, but not always, coextensive with?

  • The contractual duty to 'hold harmless' or 'save harmless' (correct)
  • The contractual duty to 'compensate'
  • The contractual duty to 'insure'
  • The contractual duty to 'guarantee'

    • In an agency context, who may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship?

  • The guarantor
  • The indemnitee
  • The agent
  • The principal (correct)

    • Under which section of the Statute of Frauds (1677) must a 'guarantee' be evidenced in writing?

  • Section 2
  • Section 4 (correct)
  • Section 6
  • Section 8

    • What forms the basis of many insurance contracts?

    <p>Indemnities</p> Signup and view all the answers

    What is a 'guarantee' in contract law?

    <p>An obligation of one party to another party to perform the promise of a relevant other party if that other party defaults</p> Signup and view all the answers

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