0
To imdemnify is to replace something to its original status before something caused some negative status to said object/product. Sustantial means it will replace said object product as near as is possible and reasonable to be done.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Does indemnity mean that person that was not at fault have to pay back?
no
What does the Indemnity to Principals Clause mean?
Indemnity to Principals clause means that the cover is extended to the principal in the event that he/she is sued. This is common for most insurance covers.
What is substantial hardship What does it mean What is a definition of substantial hardship?
Large
What does indemnity mean?
A legal obligation to cover a liability, however arising.
What exactly does indemnity mean?
it is legal philosophy upon which the concept of most insurance policies rests. Strictly speaking, indemnity is protection from loss and damage claims filed by another person.
When was Dumbbell Indemnity created?
Dumbbell Indemnity was created on 1998-03-01.
Are life insurance indemnity contracts?
contact of insurance is an example of indemnity contracts
Where indemnity go on a trial balance?
Indemnity always goes to the credit side.
What does indemnity mean in car insurance?
It means the purpose who was not at fault will be compensated for the damage the at-fault party caused.
Is life insurance a contract of indemnity?
Most insurance contracts are indemnity contracts. Indemnity contracts apply to insurances where the loss suffered can be measured in terms of money.
Indemnity in a sentence?
As a result of Bob's indemnity to the bank, he was left with only six dollars.
Subrogation and contribution as a corollaries of the principles of indemnity?
The principle of indemnity is one of the most important rules in insurance. The principle of subrogation and indemnity protects someone from multiple claims.
