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Section 121 of Indian Contract Act

    Right of seller as to rescission, on failure of buyer to pay price at time fixed. Rep. by the Indian Sale of Goods Act, 1930 (3 of 1930), s. 65.

    Section 124 of Indian Contract Act

      “Contract of indemnity” defined.— 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,…