What is an example of indemnity contract?

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

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Indemnification Agreement for Personal Property

Suffolk New York Indemnification Agreement for Personal Property

Name: Suffolk New York Indemnification Agreement for Personal Property
Brand: US Legal Forms
Rating: 4.77 (375 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

County:

Suffolk

Control #:

US-60899

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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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For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

1. The Indemnifier hereby agrees to indemnify and keep indemnified and harmless. MCL/Indemnified herein from time to time, at all times hereafter against all losses, claims, demands, proceedings, expenses, costs and consequences whatsoever on full.

Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not

Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.

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.

Do hereby for ourselves and our heirs, legal representatives, executors and administrators, jointly and severally UNDERTAKE AND AGREE to indemnify you and your successors and assign against all claims, demands, proceedings, losses, damages, charges and expenses which may be raised against or incurred by you by Page 2

"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."

A personal indemnity agreement is an agreement between you and the bond company that states that you will compensate the surety company for any losses.

Letters of indemnity should include the names and addresses of both parties involved, plus the name and affiliation of the third party. Detailed descriptions of the items and intentions are also required, as are the signatures of the parties and the date of the contract's execution.

Intermediate indemnity is the most common form of indemnity. With intermediate indemnity the indemnitor assumes liability if it has contributed to the fault. If the indemnitee is solely at fault, the indemnitor is not liable.

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File this form in Surrogate's Court. Application Form - Must be filled out completely.The applicant's responsibility to ensure that the application package is complete and accurate. Personal Property tax notices are sent prior to October 1st.

Suffolk New York Indemnification Agreement for Personal Property

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Interesting Questions

What is a Suffolk Indemnification Agreement for Personal Property?

Who needs a Suffolk Indemnification Agreement for Personal Property?

Why should I consider having a Suffolk Indemnification Agreement for Personal Property?

What types of personal property can be covered under a Suffolk Indemnification Agreement?

Can a Suffolk Indemnification Agreement be used for both residential and commercial purposes?

What happens if someone else causes damage to my personal property covered under the agreement?

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