2024 Legal definition of indemnification

Legal definition of indemnification

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August undefined, 2024

NettetDefine indemnification. indemnification synonyms, indemnification pronunciation, indemnification translation, English dictionary definition of ... nominal damages - … NettetAny deductibles, baskets, or thresholds that apply to shift the risk back to the indemnified party until the specified level of damages have accrued. The relationship between the indemnification clause and other provisions in the contract, for example, any: 11. Any statutory, common law, or public policy barriers to indemnification, such as any ...

Connecticut General Statutes § 10-235. (2024) - Indemnification …

NettetThe legal definition of indemnification clause is “the obligation of one party to compensate the other party for harm or loss incurred”. In simpler terms, for service … NettetThe meaning of INDEMNIFICATION is the action of indemnifying. the action of indemnifying; the condition of being indemnified; indemnity… See the full definition flight ac 855

Consequential Damages (Overview: What It Is And How It Works) …

Nettet\\jciprod01\productn\N\NYU\89-3\NYU303.txt unknown Seq: 3 28-MAY-14 11:25 June 2014] POLICE INDEMNIFICATION 887 APPENDIX J: SOURCE TABLE FOR LARGER JURISDICTIONS THAT DID NOT PROVIDE RESPONSIVE INFORMATION.. 997 R APPENDIX K: SOURCE TABLE FOR SMALLER JURISDICTIONS... 1001 R … Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims. Indemnification can also cover direct claims, which are claims or … Se mer Indemnification clauses allow a contracting party to: 1. Customize the amount of risk it is willing to undertake in each transaction and with every counterparty 2. Protect itself from damages and lawsuits that are more efficiently borne … Se mer A typical indemnification clause consists of two separate and distinct obligations: an obligation to indemnify, and an obligation to defend. Se mer For the indemnifying party, the obligation to defend consists of both: 1. An obligation. The indemnifying party must: 1.1. Reimburse paid defense costs and expenses 1.2. Make … Se mer Nettet26. aug. 2024 · Notwithstanding the foregoing legal definition Notwithstanding the foregoing indicates to the reader that what the author is about to say supersedes or prevails over what was just presented. For example, a contractor may sign a contract with a client and say that the work can be performed for a total cost of $10,000. flight ac85 tlv to toronto

Indemnifications Definition & Meaning - Merriam-Webster

INDEMNITY English meaning - Cambridge Dictionary

Nettetindemnity. an undertaking by one person to make good losses suffered by another. Frequently confused with guarantee, an indemnity is a primary obligation that is … Nettet10. jan. 2012 · EX-10.1 2 d281186dex101.htm INDEMNIFICATION AGREEMENT, DATED JANUARY 10, 2012 Indemnification Agreement, dated January 10, 2012 . Exhibit 10.1 . INDEMNIFICATION AGREEMENT . THIS AGREEMENT is effective January 10, 2012, between Concho Resources Inc., a Delaware corporation (the “Corporation”), and the … flight ac854NettetIndemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It’s a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future. California Civil Code § 2772 defines ... flight ac858

"Nettet28. jan. 2024 · A contractual indemnification provision often begins with a statement that a party shall “indemnify, defend and hold harmless” one or more other parties from and against losses, damages, etc ... " - Legal definition of indemnification

Legal definition of indemnification

Indemnity: What It Means in Insurance and the Law

NettetIndemnification Provisions are Powerful! Indemnification provisions can be a very powerful form of protection for a business. ... Liz uses her start-up background to … NettetThe meaning of INDEMNIFICATION is the action of indemnifying. the action of indemnifying; the condition of being indemnified; indemnity… See the full definition

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Nettet10. apr. 2024 · Just the usual ramblings of arcane legal stuff. Well, you might want to consider Section 7a of the existing licensing agreement as posted on the OpenAI website and associated with and encompassing ... Nettet3. okt. 2013 · F. Therefore, in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee’s service (or continued service) as a director and/or officer of the Company and to enhance Indemnitee’s ability to serve the Company in an effective manner, and in order to …

Nettet9. feb. 2024 · Key Defined Terms: Terms used to define the scope of indemnification (e.g., “claims,” “proceedings,” “expenses” and “losses”) can be defined to cover any and all types of legal claims and proceedings (including alternative dispute resolution proceedings and investigations) and all manner of expenses (including legal costs) and potential … NettetAn indemnification clause is a common element of contracts, used to formally transfer the risk of potential liability from one party to another. Legally defined as, “to make reimbursement to one of a loss already incurred by him,” an indemnity clause states that one party agrees to indemnify the other party, or absorb the losses caused by the other …

NettetContracts Indemnification Law and Legal Definition. Indemnification is the act of making another "whole" by paying any loss another might suffer. This usually arises … NettetA more thorough explanation: Definition: Indemnification is the act of compensating for any loss or damage that has been sustained. It is the compensation that is made to cover the loss or damage.. Example: If a person's car is damaged in an accident, the insurance company will provide indemnification to cover the cost of repairs. The insurance …

Nettetindemnification definition: 1. the act of paying or promising to pay someone an amount of money if they suffer damage or loss…. Learn more.

NettetINDEMNIFICATION AGREEMENT from SEACOR Holdings Inc. filed with the Securities and ... For purposes of this definition, ... no determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law is a legally required condition precedent to indemnification of Indemnitee hereunder against any ... chemical formula of barium carbonateNettet27. aug. 2015 · It is a common practice for one party to guarantee it will compensate another party for any loss that may occur due to a contractual obligation. To … flight ac860NettetDid your loud partying make your neighbors move out? You may find yourself paying an indemnification, meaning compensation for damages or distress. SKIP TO … flight ac 8616Nettet12. jan. 2024 · The doctrine of qualified immunity protects state and local officials, including law enforcement officers, from individual liability unless the official violated a clearly established constitutional right. The evolution of qualified immunity began in 1871 when Congress adopted 42 U.S.C. § 1983, which makes government employees and … chemical formula of baking soda is:-NettetDefine LEGAL INDEMNIFICATION. Any Member charged with an offence under any Federal or Provincial Statute during the legal execution of his or her duty shall have his … flight ac834NettetIndemnify. To compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. … flight ac861Nettet30. okt. 2024 · Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment. Typical examples of ... chemical formula of beer