Indemnifier: Difference between revisions
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{{def|Indemnifier|/ɪnˈdɛmnɪfʌə/|n|[[File:Damocles-WestallPC20080120-8842A.jpg|450px|thumb|center|An [[indemnifier]] yesterday.]]}} | {{def|Indemnifier|/ɪnˈdɛmnɪfʌə/|n|[[File:Damocles-WestallPC20080120-8842A.jpg|450px|thumb|center|An [[indemnifier]] yesterday.]]}} | ||
1. | 1. One who indemnifies; an [[indemnitor]] (''archaic''). No doubt some will bemoan the loss of this expression to the legal lexicon, but they are same sort of people who regret the decline of chimney-sweeping industry.<br> | ||
2. One who, out of a surfeit of incaution or [[deal fatigue]], has underwritten every minor calamity her counterparty may suffer; every debatable opportunity it may forgo, and every extraordinary expense it may incur, however irrational, in the performance of the contract between them. <br> | 2. Damocles. One who, out of a surfeit of incaution or [[deal fatigue]], has underwritten every minor calamity her counterparty may suffer; every debatable opportunity it may forgo, and every extraordinary expense it may incur, however irrational, in the performance of the contract between them. <br> | ||
3. (''Unusual'') A party to a [[contract]] who has agreed, in full knowledge of the facts, to bear responsibility for a well-quantified and clearly-articulated externality that it accepts its counterparty may suffer through no fault of its own, in the course of providing an incontrovertible benefit to the [[indemnifying party]] under that contract, by means of a [[well-crafted indemnity]] | 3. (''Unusual'') A party to a [[contract]] who has agreed, in full knowledge of the facts, to bear responsibility for a well-quantified and clearly-articulated externality that it accepts its counterparty may suffer through no fault of its own, in the course of providing an incontrovertible benefit to the [[indemnifying party]] under that contract, by means of a [[well-crafted indemnity]]. | ||
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Revision as of 11:53, 8 December 2020
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Indemnifier /ɪnˈdɛmnɪfʌə/ (n.)
1. One who indemnifies; an indemnitor (archaic). No doubt some will bemoan the loss of this expression to the legal lexicon, but they are same sort of people who regret the decline of chimney-sweeping industry.
2. Damocles. One who, out of a surfeit of incaution or deal fatigue, has underwritten every minor calamity her counterparty may suffer; every debatable opportunity it may forgo, and every extraordinary expense it may incur, however irrational, in the performance of the contract between them.
3. (Unusual) A party to a contract who has agreed, in full knowledge of the facts, to bear responsibility for a well-quantified and clearly-articulated externality that it accepts its counterparty may suffer through no fault of its own, in the course of providing an incontrovertible benefit to the indemnifying party under that contract, by means of a well-crafted indemnity.