A contract by which one party promises to save the other from loss caused by him by the conduct of the promisor himself is idemnity
As per sec 126 of indian contracts act 1872 a contract of guarantee is a contract to perform the promise or discharge the liability of a third person in case of his default
A borrows rs 2000 from B and C promises to B that if A does not repay the loan C will do
in gurentee they are 3 parties
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