Commentary

143 Condition precedents of the indemnity undertaking

BAILMENT vol 3(1)
| Commentary

143 Condition precedents of the indemnity undertaking

| Commentary

143 Condition precedents of the indemnity undertaking

Any indemnity is conditional upon there being certain terms in the loan agreement. These include that1:

  1. 143.1

        no restoration or conservation work is carried out on the object without the prior agreement of the owner;

  2. 143.2

        the borrower is under no liability for the loss of, or damage to, the object arising or flowing from:

    1. 143.2.1

          war, hostilities or war-like operations2;

    2. 143.2.2

          the negligence or other wrongful act of the owner, his servant or agents;

    3. 143.2.3

          the condition of the object at the time of its loan3; or

    4. 143.2.4

          restoration or

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