What does it mean when you indemnify someone?
What does it mean when you indemnify someone?
Indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party (indemnity holder) due to the 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”.
Will indemnify and hold harmless?
A contractual indemnification provision often begins with a statement that a party shall “indemnify, defend and hold harmless” one or more other parties from and against losses, damages, etc. arising from or relating to certain acts, omissions or occurrences.
What does agree to indemnify and hold harmless mean?
It defines hold harmless as follows: “To absolve (another party) from any responsibility for damage or other liability arising from the transaction; INDEMNIFY.” (It defines indemnify as follows: “To reimburse (another) for a loss suffered because of a third party’s or one’s own act or default. 2.
What does hold harmless mean in a divorce decree?
The “hold harmless” language just means that you’ve agreed to pay it on her behalf and that, if you don’t and she gets sued or incurs any other manner of financial consequence as a result of your failure to pay, you’re responsible. You can also be found in contempt for violating a court order.
What is indemnify defend and hold harmless?
Indemnification, according to the court, is “an offensive right—a sword—allowing the indemnitee to seek indemnification.” On the other hand, hold harmless is a defensive measure providing “[t]he right not be bothered by the other party itself seeking indemnification.” Under this view, hold harmless shields one party …
What is the difference between a release and an indemnity?
Unlike a release, which suppresses a cause of action, an indemnity creates a potential cause of action between the indemnitee and the indemnitor. A release extinguishes any actual or potential claims the releasor may have against the releasee without regard to third parties.
How do you write an indemnification clause?
“[Company/Business/Individual Name] shall fully indemnify, hold harmless and defend _______ and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not …
What happens if there is no indemnification clause?
If there is no indemnification clause, then the parties will not be entitled to any contractual indemnification. This does not mean that a party may not be held liable towards another party in a court of law, it just means that contractually a party cannot claim compensation for specific damages or expenses.
What is the purpose of indemnity?
“To indemnify” means to compensate someone for his/her harm or loss. In 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.
What is another word for indemnity?
Some common synonyms of indemnify are compensate, pay, recompense, reimburse, remunerate, repay, and satisfy. While all these words mean “to give money or its equivalent in return for something,” indemnify implies making good a loss suffered through accident, disaster, warfare.
What is the opposite of indemnity?
indemnify. Antonyms: fine, mulct, amerce. Synonyms: compensate, se cure, satisfy, reimburse.
What is another word for provincial?
What is another word for provincial?
| insular | parochial |
|---|---|
| claustral | sectional |
| set | confined |
| regional | reactionary |
| local | unadventurous |
What’s another word for inkling?
Inkling Synonyms – WordHippo Thesaurus….What is another word for inkling?
| notion | hunch |
|---|---|
| hint | indication |
| knowledge | sense |
| suspicion | foggiest |
| suggestion | faintest idea |
What does glimmering mean?
1a : to shine faintly or unsteadily The candles glimmered in the windows. b : to give off a subdued unsteady reflection Her white satin dress glimmered in the dusk. 2 : to appear indistinctly with a faintly luminous quality.
What does an inkling mean?
1 : a slight knowledge or vague notion had not the faintest inkling of what it was all about— H. W. Carter.
What are inklings made of?
Inklings are generally made up of Ink, Water and oil. This allows them to change their shape to that of a squid, as well as swim through ink and slip through grates, an ability that they can use for flanking opponents.
What does pilfer mean?
steal
What is the meaning of prejudicial?
1 : tending to injure or impair : detrimental a transfer prejudicial to other creditors. 2 : leading to premature judgment or unwarranted opinion prejudicial evidence. Other Words from prejudicial Synonyms & Antonyms More Example Sentences Learn More about prejudicial.
What does stereotyping mean?
Stereotyping occurs when a person ascribes the collective characteristics associated with a particular group to every member of that group, discounting individual characteristics.
What is it called when you prejudge someone?
When you judge someone or something, you “form an opinion or a conclusion” about it. If an actual judge in a court of law were to prejudge her cases, she’d make her decisions before hearing any evidence at all. When you prejudge, you count your chickens before they hatch.
What does it mean to be prejudiced against someone?
: an unfair feeling of dislike for a person or group because of race, sex, religion, etc. : a feeling of like or dislike for someone or something especially when it is not reasonable or logical. prejudice.
What are the four types of prejudice?
Some of the most well-known types of prejudice include:
- Racism.
- Sexism.
- Ageism.
- Classism.
- Homophobia.
- Nationalism.
- Religious prejudice.
- Xenophobia.
