The correct answer is: A. be indemnified for the loss or damage caused to him.
Indemnification is a legal concept that refers to the act of compensating someone for losses or damages that they have incurred as a result of the actions of another party. In the context of contract law, indemnification is often used to protect one party from the financial consequences of a breach of contract by the other party.
For example, if a contractor breaches a contract to build a house, the homeowner may be able to recover damages from the contractor for any losses or damages that they incur as a result of the breach, such as the cost of hiring another contractor to complete the project. In this case, the contractor would be required to indemnify the homeowner for their losses.
There are a number of different ways in which indemnification can be provided. One common way is through a contract clause that specifically states that one party will indemnify the other party for any losses or damages that they incur as a result of a breach of contract. Another way is through the use of insurance. If a party has insurance that covers the risk of a breach of contract, they may be able to recover damages from their insurance company if they are sued for breach of contract.
Indemnification can be a complex legal issue, and it is important to consult with an attorney if you have any questions about your rights or obligations under a contract.
Here is
a brief explanation of each option:- Option A: be indemnified for the loss or damage caused to him. This is the correct answer. Indemnification is a legal concept that refers to the act of compensating someone for losses or damages that they have incurred as a result of the actions of another party. In the context of contract law, indemnification is often used to protect one party from the financial consequences of a breach of contract by the other party.
- Option B: receive compensation for any loss or damage caused to him. This is similar to option A, but it is not as specific. Compensation can be provided in a number of different ways, such as through damages, restitution, or specific performance.
- Option C: be remunerated for the loss or damage caused to him. This is not the correct answer. Remuneration is a payment that is made in exchange for services rendered. It is not the same as indemnification, which is a payment that is made to compensate someone for losses or damages that they have incurred.
- Option D: not have any right under this act. This is not the correct answer. The party who suffers a breach of contract does have rights under the law. They may be able to recover damages from the party who breached the contract, or they may be able to terminate the contract.