2024 Legal definition of indemnify

Legal definition of indemnify

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August undefined, 2024

Nettet27. des. 2024 · Indemnification is a legal agreement by one party to hold another party blameless – not liable – for potential losses or damages. It is similar to a liability …

Legal Definition of Indemnify - fitterlaw.com

Nettet26. aug. 2024 · Notwithstanding the foregoing legal definition Notwithstanding the foregoing indicates to the reader that what the author is about to say supersedes or prevails over what was just presented. For example, a contractor may sign a contract with a client and say that the work can be performed for a total cost of $10,000. Nettet10. des. 2024 · Indemnity insurance is one way to be protected against claims or lawsuits. This insurance protects the holder from paying the full amount of a settlement, even if it is his fault. Many businesses require indemnity for their directors and executives because lawsuits are common. It covers court costs, lawyer’s fees, and settlements. pencoed fach pumpkin farm

Legal Definition Of Indemnify - isalegal

Nettet29. nov. 2024 · In the majority of contracts, an indemnification clause exists to pay a party for harm or loss caused by the other party’s. The purpose is to transfer liability from one party to the other party. A civil action typically results from a factor within the indemnifying party’s control. Additionally, an indemnification clause will typically ... Nettet14. feb. 2024 · In this Section 6.1.3, we describe situations where we do not have to indemnify you, such as (a) your violation of these terms, (b) any claims brought against you by someone due to your use of our services in combination with other applications or services, or (c) your use of our services that are free of charge or our beta offerings. Nettetindemnity: [noun] security against hurt, loss, or damage. exemption from incurred penalties or liabilities. medford oregon to waldport oregon

Indemnity legal definition of indemnity

NettetIndemnity - Legal Definition. View the related practice notes about Indemnity FCA consultation paper tracker—2024. FCA consultation paper tracker—2024 This tracker … NettetIndemnify. To compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies indemnify their policyholders against damage caused by such … Definition of indemnify in the Idioms Dictionary. indemnify phrase. What does … In most insurance contracts, the insurer agrees to both indemnify the … We would like to show you a description here but the site won’t allow us. hold harmless: n. a promise to pay any costs or claims which may result from an … Definition of indemnify (someone or something) against (something) in the … insurable interest: A right, benefit, or advantage arising out of property that is … Definition of indemnifier in the Legal Dictionary - by Free online English … indemnify: To compensate for loss or damage; to provide security for financial … medford oregon to houston tx flightsNettetFind 12 ways to say INDEMNIFY, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. pencoed to cardiff train

"NettetEnter a Legal Term. all words any words phrase. Search the Definitions. all words any words phrase. indemnify. v. to guarantee against any loss which another might suffer. Example: two parties settle a dispute over a contract, and one of them may agree to pay any claims which may arise from the contract, ... " - Legal definition of indemnify

Legal definition of indemnify

NettetWhat is the legal definition of Indemnify? In the legal context, Indemnify means To financially protect or reimburse a person if the protected person suffers loss arising out of defined circumstances. Nettet30. okt. 2024 · Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment. Typical examples of ...

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Nettetindemnify: 1 v secure against future loss, damage, or liability; give security for “This plan indemnifies workers against wages lost through illness” Type of: cover , insure , … Nettet28. okt. 2024 · Hold Harmless Clause: A hold harmless clause is a statement in a legal contract stating that an individual or organization is not liable for any injuries or damages caused to the individual ...

Nettetindemnity definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more. Nettet26. mar. 2024 · indemnify in American English. (ɪnˈdemnəˌfai) transitive verb Word forms: -fied, -fying. 1. to compensate for damage or loss sustained, expense incurred, etc. 2. to guard or secure against anticipated loss; give security against (future damage or liability) SYNONYMS 1. recompense, reimburse, repay.

Nettet21. jul. 2024 · When an indemnification clause is inserted into a contract, it is meant to transfer risk between the contracted parties. In most cases, these clauses are used to make sure that a potential loss will be compensated. If you are the party covered by this clause, it means that the other contractual party is promising to compensate you if their ... Nettetto protect someone against legal responsibility for their actions: He cannot sue, because the government had indemnified the company. The state is required to indemnify …

NettetIn 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 …

Nettet3. okt. 2024 · The legal definition of indemnify is to reimburse or compensate someone for losses or damages they have incurred. The term can also be used to refer to the protection of one party from another party’s claims or lawsuits. medford oregon to napa caNettet12. apr. 2024 · The structure of the general insuring clause was such that no liability to indemnify in respect of loss occasioned by war ever arose. The exclusions were part of the definition of the scope of cover, not exemptions from liability for cover which would otherwise exist. The court said that no liability arises if the “exclusion” applied. pencoed college emailNettetIndemnify definition, to compensate for damage or loss sustained, expense incurred, etc. See more. medford oregon to redwood forestNettetAn indemnity is a promise by one party to compensate another for the loss suffered as a consequence of a specific event, called the 'trigger event'. The trigger event can be anything defined by the parties, including: a breach of contract. a party's fault or negligence. a specific action. An indemnity operates as a transfer of risks between the ... medford oregon to redding california drivingNettetDefinition of indemnify as in to compensate to provide (someone) with a just payment for loss or injury the company generously indemnifies workers who are injured on the job medford oregon to seattle waNettetAn indemnity is routinely included within a contract of guarantee because an indemnity, as a primary obligation, is likely to be less vulnerable to challenges than a … pencoed water offNettetAn indemnity is a promise by one party to compensate another for the loss suffered as a consequence of a specific event, called the 'trigger event'. The trigger event can be … medford oregon to las vegas flights