INDEMNIFY Definition Meaning - Merriam-Webster Again, let's look at auto insurance, which indemnifies the holder against loss If a policy-holder's car is wrecked, the insurance company sends him a check for the value of the car …
What Does Indemnify Mean in Law and Contracts? - LegalClarity Pushing for mutual indemnification — where each party indemnifies the other for its own negligence — creates a more balanced agreement Carve-outs: Even when a contract caps general liability, certain obligations like indemnification and confidentiality breaches are frequently carved out and left uncapped
‘Indemnify, Defend, and Hold Harmless’: What Does It Really Mean? An indemnification provision serves as a contractual remedy to redress a party’s (or third party’s) financial loss suffered as a result of a claim, breach, or some other event or condition set forth in the provision Indemnification serves as a risk allocation mechanism derived originally from insurance law Each term—“indemnify,” “defend,” and “hold harmless”—has a
Indemnifies - definition of indemnifies by The Free Dictionary Define indemnifies indemnifies synonyms, indemnifies pronunciation, indemnifies translation, English dictionary definition of indemnifies tr v in·dem·ni·fied , in·dem·ni·fy·ing , in·dem·ni·fies 1 To protect against damage, loss, or injury; insure 2 To make compensation to for damage, loss,
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 " In contrast, a "guarantee" is an obligation of
indemnify | Wex | US Law | LII Legal Information Institute indemnify 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 The more common form of an