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Template:Indemnity description: Difference between revisions
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, 2 February 2017→What an indemnity is
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Why the excitement, you might ask, for isn’t an indemnity simply a promise to pay a defined sum should pre-agreed circumstances arise? | Why the excitement, you might ask, for isn’t an indemnity simply a promise to pay a defined sum should pre-agreed circumstances arise? | ||
Quite so, if used as the Lords intended. For an indemnity is a sensible way — perhaps the only way — to allocate the risks of externalities two merchants might encounter when providing one another goods and services. | Quite so, if used as the Lords<ref>House of Lords, that is.</ref> intended. For an indemnity is a sensible way — perhaps the only way — to allocate the risks of externalities two merchants might encounter when providing one another goods and services. | ||
===What a (well-crafted) indemnity is not=== | ===What a (well-crafted) indemnity is not=== | ||