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indemnitiy

 

Definitions from the Web

Term: Indemnity

Description:

Indemnity refers to the legal promise or protection against potential loss, damage, or liability. It is a financial compensation or security given in return for specific actions or circumstances.

Sample sentences:

  1. The insurance company provided an indemnity to cover the costs of the accident.
  2. The contract included an indemnity clause, ensuring that both parties were protected.
  3. As a landlord, it is essential to require tenants to provide an indemnity against any potential damages to the property.
  4. The company's board of directors decided to offer indemnity to the executives, protecting them from legal consequences.

Possible Related Products:

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