INDEMNIFY Definition Meaning | Dictionary. com Indemnify is commonly used in legal contracts to secure protection against being sued or held responsible for an accident The noun form of indemnify is indemnity, which refers to such protection and is often used in phrases like indemnity clause
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
What Does Indemnify Mean in Law and Contracts? - LegalClarity What Does Indemnify Mean in Law and Contracts? Indemnify means one party agrees to cover another's losses or legal costs — here's how these clauses work and what to watch for before you sign
Indemnity - Wikipedia Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident
‘Indemnify, Defend, and Hold Harmless’: What Does It Really Mean? Indemnification serves as a risk allocation mechanism derived originally from insurance law Each term—“indemnify,” “defend,” and “hold harmless”—has a distinct and important role in an indemnity clause, so it is important to understand the nuances and differences among the three terms
Indemnify Examples, Processes - Legal Dictionary 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 party to guarantee it will compensate another party for any loss that may occur due to a contractual obligation