Legal definition of 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 … NettetAn 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 …
Legal definition of indemnify
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Nettet12. 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. 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.
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. Nettet1. des. 2024 · Installs the Intel® GNA Scoring Accelerator Driver for Windows® 10 64-bit and Windows 11* for Intel® NUC 11 Pro Kits & Mini PCs - NUC11TN.
Nettet27. aug. 2015 · To indemnify means to compensate another party for losses or damages that have occurred, or which may occur in the future. It is a common practice for one … NettetStandard drafting of this clause will include that the indemnitor agrees to “indemnify, defend, and hold harmless” the indemnitee. It’s crucial to include this phrase in every indemnity agreement. Scope of coverage. Your indemnity agreement should state the extent of protection the indemnitee can claim under the transaction.
NettetBritannica Dictionary definition of INDEMNIFY. [+ object] law. 1. : to protect (someone) by promising to pay for the cost of possible future damage, loss, or injury. The policy indemnifies [= insures] you against/for any losses caused by fire. [=the policy promises that if fire destroys things that you own, you will be given money to buy new ...
Nettetsecurity against hurt, loss, or damage; exemption from incurred penalties or liabilities; indemnification… See the full definition sketchup cutting off viewsketchup dae import failedNettetIndemnify. 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 … swac conference expansionNettetAn 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 ... swac conference apparelNettet26. 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. swac conference ncaaNettet8. okt. 2024 · Indemnities are broad promises that you give the other party to compensate for losses or damages. Alternatively, the other party can give you an … sketchup cyber mondayNettet10. 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 … sketchup dashed line