INDEMNITY Definition Meaning | Dictionary. com Indemnity is protection against loss or harm — it is most often used in insurance If you suffer an injury or there's damage to your house, an indemnity makes up for the loss — if it's part of your insurance
indemnity | Wex | US Law | LII Legal Information Institute Indemnity is a type of insurance that covers a wide range of damages and losses In the indemnity clause, one party commits to compensate another party for any prospective loss or damage
What Is Indemnity? Meaning, Types, and Examples - LegalClarity An indemnity agreement is a contract in which one party promises to cover another party’s losses from a specific event or claim These agreements show up constantly in business dealings, from construction projects and commercial leases to software licenses and corporate acquisitions
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 Ultimate Guide to Indemnity: What It Means to Be Held Harmless Unlike a crime defined by a single law, indemnity is primarily a creature of contract law, governed by a patchwork of state statutes and court decisions There is no single federal “Indemnity Act ” Instead, its rules are found within broader legal frameworks
Indemnity - definition of indemnity by The Free Dictionary Security against damage, loss, or injury 2 An exemption from liability for damages resulting from specified conduct, as in a contract indemnifying a party for the performance of certain actions 3 Compensation for damage, loss, or injury suffered