Tarrant Texas Indemnity Agreement of Telocity, Inc.

Name: Tarrant Texas Indemnity Agreement of Telocity, Inc.
Brand: US Legal Forms
Rating: 4.7 (281 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Tarrant

Control #:

US-EG-9102

Format:

Instant download

Description

Indemnity Agreement between Telocity Inc. and ___________ dated 00/99 . 9 pages

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FAQ

The prevailing interpretation is that hold harmless and indemnify are synonymous. However, under the minority view, hold harmless requires payment of both actual losses and potential liabilities, while indemnify protects against incurred losses only.

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.

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.

Most states hold that indemnity provisions are enforceable as written. These clauses will likely be construed in accordance with the rules of construction that apply to contracts generally. However, the freedom to contract will be limited by Courts who will disallow contracts in contravention of public policy.

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.

Key Takeaways. Indemnity is a comprehensive form of insurance compensation for damages or loss. In this type of arrangement, one party agrees to pay for potential losses or damages caused by another party.

Insurance policies are contracts of indemnity. The insurer agrees to take responsibility for certain losses that may be sustained by the insured. Liability policies insure against claims for personal injury or property damage resulting from the negligence of the insured.

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.

Tarrant Texas Indemnity Agreement of Telocity, Inc.

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Will indemnify defend and hold harmless?

Are indemnification clauses enforceable?

Should you agree to indemnification clause?

Are indemnity clauses enforceable?

Do indemnity clauses hold up in court?

What does an indemnity agreement cover?

Is an insurance policy an indemnity agreement?

What is the purpose of indemnification clause?

Interesting Questions

What is the Tarrant Indemnity Agreement?

Why does Telocity, Inc.686040 need an indemnity agreement?

Who is Tarrant in the Tarrant Indemnity Agreement?

What types of losses does the indemnity agreement cover?

Can the indemnity agreement be modified or terminated?

Is the indemnity agreement valid indefinitely?

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