indemnity | Wex | US Law | LII / Legal Information Institute
The meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence.
INDEMNITY definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
Definition of indemnity noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Learn what indemnity means in contracts, how "defend, indemnify, and hold harmless" language works, and which clause terms are worth pushing back on. Indemnity is a contractual promise where one party agrees to cover another party’s losses from a specific event or claim.
Learn how indemnity protects against loss or damage in insurance and law. Discover key concepts, examples, and how it shields from liability claims.
An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
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.
Indemnity is protection or security against damage or loss, or compensation for damages or money spent. Insurance coverage provides indemnity to a person (or organization) by insuring them for certain potential situations, such as damages to their property from natural disasters or accidents.