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Template:Indemnity description: Difference between revisions
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Note a point of profound importance. While the failure to honour an indemnity is a breach of contract; the occurrence of circumstances permitting a claim under one is not. | Note a point of profound importance. While the failure to honour an indemnity is a breach of contract; the occurrence of circumstances permitting a claim under one is not. | ||
To claim under a (well-crafted) indemnity, therefore, there is no breach to allege; no loss to prove; no causation required, no value judgment needed to satisfy the | To claim under a (well-crafted) indemnity, therefore, there is no breach to allege; no loss to prove; no causation required, no value judgment needed to satisfy the [[indemnifier]] of your bona fides: all you need prove is: | ||
*There is an [[indemnity]] | *There is an [[indemnity]] | ||
*The indemnified event has happened; | *The indemnified event has happened; | ||
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Recovering for a failure to honour a (well-crafted) indemnity is also straightforward: You must prove only the above, and the following: | Recovering for a failure to honour a (well-crafted) indemnity is also straightforward: You must prove only the above, and the following: | ||
*You have demanded the indemnified sum from [[ | *You have demanded the indemnified sum from [[indemnifier]]; and | ||
*The [[ | *The [[indemnifier]] has not paid it. | ||
Nor is an {{tag|indemnity}} (if properly crafted), broader or of less determinate scope than any other contractual claim, though, thanks to the continental drift, some indemnities try to catch everything under the sun. They shouldn't. Indemnities are precision tools for narrow risks, not weapons of mass destruction. The sky should not fall in under the weight of a well-proportioned {{tag|indemnity}}. | Nor is an {{tag|indemnity}} (if properly crafted), broader or of less determinate scope than any other contractual claim, though, thanks to the continental drift, some indemnities try to catch everything under the sun. They shouldn't. Indemnities are precision tools for narrow risks, not weapons of mass destruction. The sky should not fall in under the weight of a well-proportioned {{tag|indemnity}}. | ||