The Well-Crafted Indemnity
Myths and legends of the market
The JC’s guide to the foundational mythology of the markets.™
The Well-Crafted Indemnity, (BWV 846–893), is a collection of two sets of standard contract precedents, one covering liquidated damages, the other general reimbursement obligations, in all common law jurisdictions, composed for sole practitioner by unsuccessful but persistent librettist Otto Büchstein.
In Büchstein’s time “indemnity” was a generic term for any kind of possible monetary advantage, however speculative, you might think to claim against the estate of an insolvent counterparty once any prospect of an ongoing revenue stream had dried up.