83,022
edits
Indemnity: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) (→Usage) |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
An indemnity is an undertaking by one party (an "'''[[indemnifying party]]'''") to compensate another (an "'''[[indemnified party]]'''") for losses the [[indemnified party]] suffers ''beyond'' those arising as a direct consequence of the [[indemnifying party]]'s failure to perform its obligations under the contract containing the indemnity. | An {{tag|indemnity}} is an undertaking by one party (an "'''[[indemnifying party]]'''") to compensate another (an "'''[[indemnified party]]'''") for losses the [[indemnified party]] suffers ''beyond'' those arising as a direct consequence of the [[indemnifying party]]'s failure to perform its obligations under the contract containing the indemnity. | ||
Indemnities are therefore generally viewed as onerous obligations. A request for one will often be met with a sharp intake of breath. | Indemnities are therefore generally viewed as onerous obligations. A request for one will often be met with a sharp intake of breath. | ||