If you’ve ever bought a property or entered into a business contract, chances are that you’ve come across the term 'indemnity'. A letter of indemnity is often used in property as an important ...

Indemnity clauses are included in contracts to provide a means by which the contracting parties can shift the responsibility of risk. “Indemnity clauses can expand, limit or even eliminate the ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Eric's career includes extensive work in both public and corporate accounting with ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Fixed indemnity plans pay you a set amount if certain medical situations happen, like getting a critical illness or breaking a bone. You might have a plan that gives you $100 per day if you're in the ...

According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

Whether you know it or not, the Uniform Commercial Code imposes a warranty of non-infringement on every product you as a product manufacturer sells. Essentially, the law requires to you to guarantee ...