Pennsylvania Amendment of Articles to Expand Indemnification of Agents
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How to fill out Amendment Of Articles To Expand Indemnification Of Agents?
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FAQ
What Is an Indemnification Clause? An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.
2d 893 (Pa. 1971). At common law, indemnification is an equitable remedy that ultimately shifts the entire responsibility for damages from a party who, solely by operation of law, has been required to pay a claim because of some legal relationship to the party at fault.
Under Pennsylvania law, courts follow the ?Perry-Ruzzi? rule, under which ?provisions to indemnify for another party's negligence are to be narrowly construed, requiring a clear and unequivocal agreement before a party may transfer its liability to another party.? See Bernotas v. Super Fresh Food Markets, 963 A.
Generally speaking, indemnification agreements are enforceable in Pennsylvania. Although Pennsylvania has what is known as an anti-indemnification statute, it is very limited in its scope.
Extent of liability in Contract of Indemnity. Section 125 lays down the extent of liability or the rights available to the indemnity-holder. The promisor shall be liable in any event whether or not the promisee makes default.
Limited indemnification clauses require the Indemnitor to indemnify the Indemnitee only to the extent the Indemnitee's injuries and losses were caused by the Indemnitor. Many states have adopted statutes limiting the enforceability of indemnification clauses.
Indemnification clauses are exceedingly common in many contracts, but what you should pay close attention to is the scope of your indemnification agreement. Generally, you should only agree to pay for losses arising from your own actions and not the other party's actions.
The language, ?[t]o the fullest extent permitted by law,? is intended to protect the indemnity clause from being disregarded by a court or arbitrator in the event that the clause is found to be more protective than what is permitted under the law.