What is the purpose of an indemnity clause in a contract?

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap.

What is a good indemnity clause?

When an indemnification clause uses the word "defend," you want to look at it particularly carefully. "Indemnify" and "hold harmless" both mean pretty much the same thing: to make the injured party whole again. Language using "defend," on the other hand, may suggest responsibility for defending against lawsuits.

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Indemnity Agreement of Telocity...

Wayne Michigan Indemnity Agreement of Telocity, Inc.

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

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Wayne

Control #:

US-EG-9102

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Instant download

Description

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

How to fill out Wayne Michigan Indemnity Agreement Of Telocity, Inc.?

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FAQ

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

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.

India Code: Section Details. A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a contract of indemnity.

Indemnity Clause: The purpose of this clause is to ensure that the independent contractor will be held liable for any damage or injury resulting from the independent contractor's work performed under the contract.

Life insurance does not relate to a contract of indemnity because the insurer does not promise to indemnify the insured for any loss on maturity or death of the insured but agrees to pay a sum assured in that case.

A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a contract of indemnity.

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap.

Indemnity benefits are monetary payments you may be entitled to receive as compensation for lost wages or damages related to your workers' compensation claim.

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.

When an indemnification clause uses the word "defend," you want to look at it particularly carefully. "Indemnify" and "hold harmless" both mean pretty much the same thing: to make the injured party whole again. Language using "defend," on the other hand, may suggest responsibility for defending against lawsuits.

Wayne Michigan Indemnity Agreement of Telocity, Inc.

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How to fill out Wayne Michigan Indemnity Agreement Of Telocity, Inc.?

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