The meaning of indemnify

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August undefined, 2024

Splet21. okt. 2006 · It defines hold harmless as follows: “To absolve (another party) from any responsibility for damage or other liability arising from the transaction; INDEMNIFY.” (It defines indemnify as follows: “To reimburse (another) for a loss suffered because of a third party’s or one’s own act or default. 2. To promise to reimburse (another) for such a loss. SpletIn contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts …

Defend, Indemnify and Hold Harmless: What They Mean and How …

Splet13. apr. 2024 · Following the Company's 2024 Annual Meeting of Stockholders, the Board of Directors declared a quarterly dividend of 70 cents per share, payable June 9, 2024, to … SpletRecompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. lighthouse energy space

Indemnify legal definition of indemnify

Splet05. nov. 2024 · To indemnify is to make a payment to another to reimburse a loss. Insurance companies indemnify policyholders for covered losses. Guaranteed indemnification of covered losses is a basic principle of insurance, and it is the main reason why people buy insurance for various risks. Advertisement. Splet1 a : the action of indemnifying b : the condition of being indemnified 2 : indemnity sense 2b Synonyms compensation damages indemnity quittance recompense recoupment redress remuneration reparation reprisal (s) requital restitution satisfaction See all Synonyms & Antonyms in Thesaurus Example Sentences Spletindemnity noun [ C or U ] uk / ɪnˈdemnəti / us plural indemnities INSURANCE protection against possible damage or loss, or the money paid if there is damage or loss: indemnity … lighthouse energy space login

Indemnity Definition & Meaning Dictionary.com

“Hold Harmless” and “Indemnify” - Adams on Contract Drafting

SpletMeaning that, if an accident happens while the renter is using the car, the car rental company will not be liable for any damage. ‌ ... Standard drafting of this clause will include that the indemnitor agrees to “indemnify, defend, and hold harmless” the indemnitee. It’s crucial to include this phrase in every indemnity agreement. ‌ SpletThe meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence. security against hurt, loss, or damage; exemption from incurred penalties … lighthouse energy healingSplet12. apr. 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an … peachtree associates insurance

"SpletFrom Longman Dictionary of Contemporary English Related topics: Law, Insurance indemnify in‧dem‧ni‧fy / ɪnˈdemnɪfaɪ / verb (indemnified, indemnifying, indemnifies) … " - The meaning of indemnify

The meaning of indemnify

Spletin·dem·ni·fy 1. To protect against damage, loss, or injury; insure. 2. To make compensation to for damage, loss, or injury suffered. Splet26. mar. 2024 · indemnify in American English (ɪnˈdemnəˌfai) transitive verb Word forms: -fied, -fying 1. to compensate for damage or loss sustained, expense incurred, etc 2. to …

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Splet27. avg. 2015 · Definition of Indemnify To protect someone, or some entity, from loss, damages, or injury that may occur in the future. To compensate someone, or some … Splet12. apr. 2024 · indemnify in American English. (ɪnˈdɛmnɪˌfaɪ ) verb transitive Word forms: inˈdemniˌfied or inˈdemniˌfying. 1. to protect against or keep free from loss, damage, etc.; …

Spletindemnify verb [ T ] uk / ɪnˈdem.nɪ.faɪ / us / ɪnˈdem.nə.faɪ / finance & economics formal or specialized to pay or promise to pay someone an amount of money if they suffer damage … Splet28. jan. 2024 · Using the obligation to indemnify, the duty to defend, and the obligation to hold harmless properly in contracts helps ensure a party is taking on the right amount of …

Splet24. jul. 2024 · Indemnification, according to the court, is “an offensive right—a sword—allowing the indemnitee to seek indemnification.” On the other hand, hold harmless is a defensive measure providing “ [t]he...

Splet25. maj 2024 · Synonyms of indemnify are as follows: Hold harmless Remunerate Put up money Settle accounts with Compensate Indemnification Agree to pay Make secure …

SpletIndemnity is protection or security against damage or loss, or compensation for damages or money spent. Insurance coverage provides indemnity to a person (or organization) by … lighthouse engineeringSplet12. apr. 2024 · indemnify in American English (ɪnˈdemnəˌfai) transitive verb Word forms: -fied, -fying 1. to compensate for damage or loss sustained, expense incurred, etc 2. to guard or secure against anticipated loss; give security against (future damage or liability) SYNONYMS 1. recompense, reimburse, repay. lighthouse energy groupSplet21. jul. 2024 · The words defend, hold harmless, and indemnify must be included in an indemnification clause. Essentially, hold harmless and indemnify mean the exact same thing. ... For instance, if your contract includes a mutual indemnification clause, it means that both contracted parties have agreed to cover losses that result from a breach of … peachtree athletic and rehabilitation centerSpletindemnified; indemnifying 1 : to secure against hurt, loss, or damage 2 : to compensate or reimburse for incurred hurt, loss, or damage indemnifier noun Etymology Latin indemnis unharmed, from in- not + damnum … peachtree asthma and allergy buckheadSpletTo indemnify is to insure someone against potential damages or loss or to compensate someone for damages or money spent. Insurance coverage ind e mnifies a person by … lighthouse energy supportSpletnoun in· dem· ni· ty in-ˈdem-nə-tē plural indemnities Synonyms of indemnity 1 a : security against hurt, loss, or damage b : exemption from incurred penalties or liabilities 2 a : … peachtree asthma and allergySpletThe definition of indemnify is to protect against loss, injury or damage or to pay someone for a loss they suffered. An example of indemnify is when your insurance provider pays … peachtree athletic \u0026 rehabilitation center