"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.
Indemnity in insurance means the exact financial compensation. This can be provided by: 1. Cash payment 2. Repair 3. Replacement 4. Reinstatement For more information email to: KAEY.VEE@GMAIL.COM
It can stand for either Letter Of Intent or Letter Of Indemnity.
Buyer if you mean in terms of the action they performSaleswoman if you mean the opposite in terms of gender/female version
You will have to look at your policy. It will detail all the coverage you purchased.
Indemnity, indemnify (as I understand it) is protection from loss, and to make whole, after a loss has been sustained. On Behalf of would be the person the sum is being paid for/in your stead/representing you/in stead of you. Your insurance company made payment to the injured/damaged property that you were responsible for, thus indemnifying them, on your behalf, (rather than you paying it yourself).
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.
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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.
A legal obligation to cover a liability, however arising.
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.
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.
It means the purpose who was not at fault will be compensated for the damage the at-fault party caused.
contact of insurance is an example of indemnity contracts
Dumbbell Indemnity was created on 1998-03-01.
Indemnity always goes to the credit side.
Most insurance contracts are indemnity contracts. Indemnity contracts apply to insurances where the loss suffered can be measured in terms of money.
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.