Penal Employment Indemnity Bond; Antithesis to Freedom of Parties

According to sec.124 of Indian contract act,"A contract of indemnity is a contract by which one party promise to save the other from the loss caused to him by the conduct of the promisor himself or by the conduct of any other person." The person who promises to make good the loss is called the "˜indemnifier"™ and the person to whom the promise is made i.e. called the "˜indemnified"™ or the indemnity-holder"™ Akshansh Singh"Penal Employment Indemnity Bond; Antithesis to Freedom of Parties" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018, URL: http://www.ijtsrd.com/papers/ijtsrd17082.pdf http://www.ijtsrd.com/humanities-and-the-arts/other/17082/penal-employment-indemnity-bond-antithesis-to-freedom-of-parties/akshansh-singh