indemnity | Wex | US Law | LII Legal Information Institute Indemnity is a type of insurance that covers a wide range of damages and losses In the indemnity clause, one party commits to compensate another party for any prospective loss or damage
Indemnity - Wikipedia In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless"
What is Indemnity? - Definition from Insuranceopedia Indemnity refers to compensation or payment for losses or damages, typically as part of a contractual agreement or insurance policy between two parties—the insurer and the insured—in exchange for premium payments
Indemnity legal definition of indemnity - TheFreeDictionary. com Legal . . . indemnity an undertaking by one person to make good losses suffered by another Frequently confused with guarantee, an indemnity is a primary obligation that is enforceable irrespective of whether the beneficiary could sue the person responsible for causing the loss
What Is Indemnity and Why Is It Important? - LegalZoom Indemnity is an important element of contracts because it is designed to punish a party who breaches the contract Learn about the different types of indemnity and why they're essential
INDEMNITY - The Law Dictionary An Indemnity Is a collateral contract or assurance, by which one person engages to secure another against an anticipated loss or to prevent him from being damnified by the legal consequences of an act or forbearance on the part of one of the parties or of some third person
Indemnity - definition of indemnity by The Free Dictionary Define indemnity indemnity synonyms, indemnity pronunciation, indemnity translation, English dictionary definition of indemnity n pl in·dem·ni·ties 1 Security against damage, loss, or injury 2 An exemption from liability for damages resulting from specified conduct, as in a
indemnify | Wex | US Law | LII Legal Information Institute To indemnify, also known as indemnity or indemnification, means compensating a person for damages or losses they have incurred or will incur related to a specified accident, incident, or event Typically, parties make a written agreement in which one party (indemnitor) promises to indemnify the other party (indemnitee) for future specified losses