n. the act of making some body "whole" (give equal to whatever they have forfeit) or shielded from (insured against) any losses that have taken place or will occur.
renovation to the victim of a loss up to the amount of the loss.
an understanding by which someone is answerable for compensating the losings of another. Indemnities are normal top features of numerous commercial contracts in which one-party is purchasing products or a site from another, and desires to make sure it'll be compensated if the vendor features misled it about some thing.
n Indemnity Is a collateral agreement or assurance, where one person activates to secure another against an anticipated loss or even to prevent him from being damnified because of the legal effects of an act or forbearance for the functions or of some 3rd person. See Civ. Code Cal.
mid-15c., from center French indemnit
protection against future reduction
- legal exemption from liability for damages
- a sum of cash paid-in compensation for reduction or damage
- protection; insurance coverage; exemption from reduction or damage, last or even to come; immunity from punishment, or the discipline of previous offenses; amnesty.
- Indemnification, compensation, or remuneration for loss, harm, or injury sustained.
(letter.) protection; insurance; exemption from loss or harm, past or to come; resistance from punishment, or even the discipline of previous offenses; amnesty.
- (n.) Indemnification, payment, or remuneration for loss, damage, or damage sustained.
Peace was then made on the terms that Turkey should retain her conquests and Venice should pay an indemnity of 300,000 ducats.