Webindemnity noun [ C or U ] uk / ɪnˈdemnəti / us plural indemnities INSURANCE protection against possible damage or loss, or the money paid if there is damage or loss: indemnity … WebDefine THIS GUARANTEE AND INDEMNITY. means this Deed of Guarantee and Indemnity; (d) the expression "PERSON" includes an individual, the estate of an individual, a body politic, corporation and a statutory or other authority or association (incorporated or unincorporated); (e) a reference to any party includes that party's executors, …
INDEMNITY English meaning - Cambridge Dictionary
WebMay 1, 2013 · The object and effect of a contractual indemnity are to alter the common law or statutory rights of parties. It does not matter whether you act for the party giving or receiving the indemnity — it is essential that you consider the extent to which a contracting party seeks to alter those existing rights. WebWhat does Indemnity mean? An indemnity is an agreement by one party (the indemnifying party) to bear the cost of certain losses or liabilities incurred by another party (the indemnified party) in certain circumstances. An indemnity will typically give rise to a right to an on demand payment without the need to prove a breach of contract. princethorpe open day
Indemnity Practical Law
Weblaw. 1. [noncount] : a promise to pay for the cost of possible damage, loss, or injury. an agreement providing indemnity against prosecution/loss. — often used before another … WebAug 27, 2015 · What is Indemnity. While the term indemnify is a verb, referring to the act of compensating someone for loss, the term indemnity is a noun, referring to the agreement or guarantee to compensate someone in the event loss occurs. Indemnity is commonly included as a clause in contracts in which the actions or mistakes of one party may result … WebAn indemnity agreementis a contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an … princethorpe links