Legal definition of indemnification

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August undefined, 2024

Nettetto secure against hurt, loss, or damage; to make compensation to for incurred hurt, loss, or damage… See the full definition Nettet29. nov. 2024 · Indemnification in contracts is essential to protecting your business from negligent or nefarious third parties. An indemnification clause ensures that you don’t …

Indemnity Practical Law

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. … NettetEX-10.1 2 d387183dex101.htm FORM OF INDEMNIFICATION AGREEMENT Form of Indemnification Agreement . Exhibit 10.1 . HARTE-HANKS, INC. INDEMNIFICATION AGREEMENT . This Indemnification Agreement (this “Agreement”) is made and entered into as of the day of , 20 , by and between Harte-Hanks, Inc., a Delaware corporation … the walk-on bar \\u0026 grill mount horeb

Release And Indemnity Agreement: Definition & Sample

NettetINDEMNIFICATION AGREEMENT from SEACOR Holdings Inc. filed with the Securities and ... For purposes of this definition, ... no determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law is a legally required condition precedent to indemnification of Indemnitee hereunder against any ... NettetConn. Gen. Stat. § 10-235. (2024) - Indemnification of teachers, board members, employees and certain volunteers and students in damage suits; ... Legal fees and costs incurred as a result of the ... 1971 act included definition of “other employee” and extended definition of “teachers” and “other employees” to include ... 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. the walk zanesville ohio

Indemnity: What It Means in Insurance and the Law

Indemnity in contracts - What

NettetDefine LEGAL INDEMNIFICATION. Any Member charged with an offence under any Federal or Provincial Statute during the legal execution of his or her duty shall have his … NettetAny deductibles, baskets, or thresholds that apply to shift the risk back to the indemnified party until the specified level of damages have accrued. The relationship between the indemnification clause and other provisions in the contract, for example, any: 11. Any statutory, common law, or public policy barriers to indemnification, such as any ... the walkable city jennie middletonNettet12. apr. 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer … the walk-up company

"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 ... " - Legal definition of indemnification

Legal definition of indemnification

Qualified Immunity - National Conference of State Legislatures

Nettet27. aug. 2015 · 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. To … Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims. Indemnification can also cover direct claims, which are claims or … Se mer Indemnification clauses allow a contracting party to: 1. Customize the amount of risk it is willing to undertake in each transaction and with every counterparty 2. Protect itself from damages and lawsuits that are more efficiently borne … Se mer A typical indemnification clause consists of two separate and distinct obligations: an obligation to indemnify, and an obligation to defend. Se mer For the indemnifying party, the obligation to defend consists of both: 1. An obligation. The indemnifying party must: 1.1. Reimburse paid defense costs and expenses 1.2. Make … Se mer

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NettetIndemnification definition, the act of indemnifying; state of being indemnified. See more.

NettetThis is because it's not a pre-made umbrella level of protection like an indemnification, nor is it limited to a breach of contract and claiming damages. A hold harmless clause is a clear legal statement indicating that an individual or enterprise will not be held liable for the following actions that are caused to another party, such as: Risk. NettetIn most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party’s actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party. It is also known as a “hold harmless” clause, because one party will hold harmless the ...

Nettet11. jun. 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 … NettetThe meaning of INDEMNIFICATION is the action of indemnifying. the action of indemnifying; the condition of being indemnified; indemnity… See the full definition

Nettet14. mai 2024 · Cornell Law School’s Legal Information Institute provides the legal definition of consequential damages as follows: Damages suffered because of the injured party’s particular circumstances. Also called special damages, since they result from a breach of contract and yet would not necessarily be incurred by every injured …

NettetContracts Indemnification Law and Legal Definition. Indemnification is the act of making another "whole" by paying any loss another might suffer. This usually arises … the walkable city conceptNettetThe legal definition of indemnification clause is “the obligation of one party to compensate the other party for harm or loss incurred”. In simpler terms, for service … the walkabout companyNettetDid your loud partying make your neighbors move out? You may find yourself paying an indemnification, meaning compensation for damages or distress. SKIP TO … the walkable cityNettetDefine indemnification. indemnification synonyms, indemnification pronunciation, indemnification translation, English dictionary definition of ... nominal damages - (law) a trivial sum (usually $1.00) awarded as recognition that a legal injury was sustained (as for technical violations of a contract) exemplary damages, punitive damages ... the walkable city ted talkNettetindemnity definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more. the walkable city bookNettet26. 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. the walkable city by jeff speckNettet15. jul. 2024 · A type of indemnification agreement where each party is liable for actions provoked by its own negligence or misconduct. Its primary purpose is for each entity to … the walkabout hotel