Meaning of Offer & Acceptance. Essential Component of Offer & Acceptance For B.com, BBA,LLB Class

📌 Special Contract Act (Indian Contract Act, 1872) – Indemnity & Guarantee | Business Law | B.Com | BBA | Easy Explanation

Welcome to this complete lecture on the Special Contract Act under the Indian Contract Act, 1872.
This video is specially designed for B.Com, BBA, MBA, Law students, and competitive exam aspirants who want to understand Indemnity & Guarantee in a simple, easy and exam-focused way.

👉 In this video, we cover:

🔹 Introduction to Special Contract Act

Meaning of Special Contracts

Importance in Business & Law

🔹 Contract of Indemnity

Definition & Meaning

Essentials of Indemnity

Rights of Indemnity Holder

Duties of Indemnifier

Examples for exam use

🔹 Contract of Guarantee

Definition & Meaning

Essentials of Guarantee

Parties to a Guarantee: Creditor, Principal Debtor & Surety

Nature of Surety’s Liability

Discharge of Surety from Liability

🔹 Types of Guarantees

✅ Specific Guarantee

✅ Continuing Guarantee [Sec. 129]

Revocation of Guarantee

🔹 Difference Between Indemnity & Guarantee

Number of Parties

Nature of Liability

Time of Liability

Purpose

Right to Sue Third Party

Competency to Contract

🔹 Important Sections Covered

Section 124: Contract of Indemnity

Section 126: Contract of Guarantee

Section 129: Continuing Guarantee

📘 Best For:

B.Com Students

BBA & MBA Students

Law Students (LLB, CA, CS)

Competitive Exams (UGC NET, Judiciary Exams, CLAT)

🔑 Keywords for Students (Search Friendly)

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📌 Why Watch This Video?

Simple explanation with examples

Exam-oriented notes

Easy to revise before exams

Useful for writing long answers & MCQs

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Видео Meaning of Offer & Acceptance. Essential Component of Offer & Acceptance For B.com, BBA,LLB Class канала Conceptual Study Point