What is a standard indemnification clause?

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

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Indemnification Agreement for Personal Property

Dallas Texas Indemnification Agreement for Personal Property

Name: Dallas Texas Indemnification Agreement for Personal Property
Brand: US Legal Forms
Rating: 4.77 (375 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

County:

Dallas

Control #:

US-60899

Format:

Instant download

Description

Shareholders of a certain company and a particular purchaser executed an Asset Purchase Agreement. The shareholders agree to defend, and hold the purchaser harmless against any and all damages, loss, liability, or deficiency sustained or incurred by purchaser which arises out of or results from any liability or obligation which may become due.

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How to fill out Dallas Texas Indemnification Agreement For Personal Property?

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FAQ

Party A shall indemnify, defend and hold harmless Party B against any and all loss arising out of, by reason of, in connection with or as a result of third-party claims in connection with intellectual property that is the subject matter of license under this agreement.

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

To indemnify means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

Court will not enforce an indemnification provision that indemnifies an indemnitee for its own negligence unless the intention of the parties is clearly and unambiguously expressed. Courts first look for specific language in the contract that address the fault or negligence of the indemnitee.

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c

At their core, indemnification provisions transfer liabilities related to a claim from one party to another party, generally in the event of a breach of contract or a party's negligence or misconduct in the performance of the agreement.

Hold harmless and indemnification is a clause that should identify which party will defend and indemnify the other party in a claim situation; it may be a mutual agreement.

Example 1: Here is an example of a simple indemnity clause in a contract: "I hereby release, acquit and discharge company and its agents and employees from any liability arising from any circumstance including the negligence of company or its employees.

"Each party agrees to indemnify, defend, and hold harmless the other party from and against any loss, cost, or damage of any kind (including reasonable outside attorneys' fees) to the extent arising out of its breach of this Agreement, and/or its negligence or willful misconduct."

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General liability waiver. Indemnification agreement.Indemnification provisions are common in many contracts. Personal injury and tangible property damage. Pick-up the participant and identification will be required. ROW-A-5, Real Estate Appraisal Report Texas Department of Transportation. "Public work contract" means a contract for constructing, altering, or repairing a public building or carrying out or completing any public work. IRC § 6323(f) provides that states may designate one office for filing the NFTL for real and personal property.

Dallas Texas Indemnification Agreement for Personal Property

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