indemnity contract
indemnity contract 补偿契约(→indemnity; indemnity bond)
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Search Results for: indemnity contract
indemnity contract
A contract by which the promisor agrees to reimburse a promisee for some loss irrespective of a third person’s liability. — Also termed contract of indemnity.
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double indemnity
The payment of twice the basic benefit in the event of a specified loss, esp. as in an insurance contract requiring the insurer to pay twice the policy’s face amount in the case of accidental death. [Cases: Insurance 2599. C.J.S. Insurance §§ 1094, 1096, 1170–1171.]
indemnity
indemnity (in-dem-n[schwa]-tee), n. 1. A duty to make good any loss, damage, or liability incurred by another. [Cases: Indemnity 20, 25, 50–61.] 2. The right of an injured party to claim reimbursement for its loss, damage, or liability from a person who has such a duty. 3. Reimbursement or compensation for loss, damage, or liability
indemnity clause
indemnity clause. A contractual provision in which one party agrees to answer for any specified or unspecified liability or harm that the other party might incur. — Also termed hold-harmless clause; save-harmless clause. Cf. EXEMPTION CLAUSE. [Cases: Indemnity 25, 31(4).]
accessory contract
A contract entered into primarily for the purpose of carrying out a principal contract. • The principal types are suretyship, indemnity, pledge, warranty, and ratification. Cf. principal contract.
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joint and several liability
Liability that may be apportioned either among two or more parties or to only one or a few select members of the group, at the adversary’s discretion. • Thus, each liable party is individually responsible for the entire obligation, but a paying party may have a right of contribution and indemnity from nonpaying parties. See
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hold harmless agreement
hold-harmless agreement. A contract in which one party agrees to indemnify the other. — Also termed save-harmless agreement. See INDEMNITY. [Cases: Indemnity 25–33.]
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exemption clause
A contractual provision providing that a party will not be liable for damages for which that party would otherwise have ordinarily been liable. Cf. EXCEPTION CLAUSE; EXCULPATORY CLAUSE; INDEMNITY CLAUSE. [Cases: Contracts 114. C.J.S. Contracts § 271.]
exemption clause
exemption clause. A contractual provision providing that a party will not be liable for damages for which that party would otherwise have ordinarily been liable. Cf. EXCEPTION CLAUSE; EXCULPATORY CLAUSE; INDEMNITY CLAUSE. [Cases: Contracts 114. C.J.S. Contracts § 271.] “An exemption clause may take many forms, but all such clauses have one thing in common