what doesindemnify mean represents a topic that has garnered significant attention and interest. INDEMNIFY Definition & Meaning - Merriam-Webster. The meaning of INDEMNIFY is to secure against hurt, loss, or damage. How to use indemnify in a sentence. ‘Indemnify, Defend, and Hold Harmless’: WhatDoes It Really Mean?.
Indemnification serves as a risk allocation mechanism derived originally from insurance law. In relation to this, each term—“indemnify,” “defend,” and “hold harmless”—has a distinct and important role in an indemnity clause, so it is important to understand the nuances and differences among the three terms. Indemnification: Understanding an Indemnification Clause. Indemnifications in legal terms are contractual provisions where one or both parties agree to compensate the other for any harm or loss resulting from damages caused by a third party. Insurance companies may require businesses to indemnify their vendors for liability coverage.
INDEMNIFY | English meaning - Cambridge Dictionary. indemnify someone against something The state is required to indemnify employees against civil claims relating to actions taken in the course of their official duties. INDEMNIFY Definition & Meaning | Dictionary.com. Indemnify is commonly used in legal contracts to secure protection against being sued or held responsible for an accident. The noun form of indemnify is indemnity, which refers to such protection and is often used in phrases like indemnity clause. indemnify - Meaning in law and legal documents, Examples and FAQs ....
To indemnify someone means to protect them from financial loss or damage. Another key aspect involves, if you indemnify a person or a company, you agree to cover their costs if they face a lawsuit or have to pay for damages. What Does It Mean to Indemnify Someone? To indemnify someone is a contractual promise to cover their financial losses. This concept transfers risk from one party to another and is a common feature in many legal agreements.
indemnify verb - Definition, pictures, pronunciation and usage notes .... Similarly, definition of indemnify verb from the Oxford Advanced Learner's Dictionary. indemnify somebody (against something) to promise to pay somebody an amount of money if they suffer any damage or loss.
The contract indemnifies them against loss of earnings. INDEMNIFY definition and meaning | Collins English Dictionary. To indemnify someone against something bad happening means to promise to protect them, especially financially, if it happens. Indemnify - Definition, Meaning & Synonyms | Vocabulary.com. To pay compensation for a loss, damages, or similar expense is to indemnify.
"The insurance company indemnified its customers for their claims after the severe storm — one customer lost three cars, a row boat, and a golf cart." The verb indemnify also means to secure against future loss.
📝 Summary
Knowing about what does indemnify mean is essential for people seeking to this subject. The knowledge provided above acts as a valuable resource for continued learning.