answersLogoWhite

0

"Action over indemnity" refers to a legal principle where a party seeks compensation from another party for losses incurred, rather than relying solely on contractual indemnity provisions. In such cases, the injured party may pursue a direct legal action to recover damages, which may be more advantageous than waiting for indemnification under a contract. This concept often arises in liability cases, especially in construction or insurance contexts, where multiple parties may have overlapping responsibilities. It emphasizes the proactive approach of seeking recovery rather than passively waiting for indemnification.

User Avatar

AnswerBot

3w ago

What else can I help you with?

Related Questions

What is an action over indemnity buyback clause?

The action over indemnity buyback clause states that property may still be acquired by previous owner by paying a certain amount plus penalties and charges. A specific time frame is given to buy the property back before it will be up for auction.


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 does indemnity mean?

A legal obligation to cover a liability, however arising.


What is action over indemnity buy back?

Action over indemnity buy back is a legal mechanism often used in insurance and liability contexts. It allows an insurer to "buy back" the right to pursue a claim against a third party after compensating the insured for their loss. This process enables the insurer to recover costs from the responsible party while providing the insured with immediate financial relief. Essentially, it balances the interests of both the insurer and the insured in managing liability risks.


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.


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.


Are life insurance indemnity contracts?

contact of insurance is an example of indemnity contracts


When was Dumbbell Indemnity created?

Dumbbell Indemnity was created on 1998-03-01.


Where indemnity go on a trial balance?

Indemnity always goes to the credit side.


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.


What is the difference between indemnity and indemnify, and how do they relate to each other in terms of providing protection against potential losses or damages?

Indemnity is a noun that refers to protection or security against potential losses or damages. Indemnify is a verb that means to compensate or secure someone against potential losses or damages. In essence, indemnity provides the concept of protection, while indemnify is the action taken to provide that protection.