indeminify

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Term: indemnify

Definition:

Indemnify is a verb that means to compensate or protect someone from harm, loss, or expenses incurred by their actions or on their behalf.

Sense 1:

As a legal term, indemnify refers to the act of guaranteeing financial reimbursement or protection against future liabilities.

Example sentence:

A contractual clause was included to indemnify the company against any potential lawsuits arising from the use of their product.

Sense 2:

Informally, indemnify can also mean to compensate someone for damage, loss, or injuries suffered.

Example sentence:

The insurance company agreed to indemnify the policyholder for the damages caused by the accident.

Sense 3:

In finance, indemnify can refer to guaranteeing security against potential financial losses.

Example sentence:

The bank offered to indemnify the customer against fraudulent transactions on their credit card.