Definitions for indemnityɪnˈdɛm nɪ ti
This page provides all possible meanings and translations of the word indemnity
Random House Webster's College Dictionary
in•dem•ni•tyɪnˈdɛm nɪ ti(n.)(pl.)-ties.
protection or security against damage or loss.
compensation for damage or loss sustained.
legal exemption from penalties attaching to illegal actions.
Origin of indemnity:
1425–75; late ME indem(p)nite < L indemnitās=indemni(s) without loss (in-in -3+-demnis, adj. der. of damnum financial loss) +-tās
protection against future loss
legal exemption from liability for damages
damages, amends, indemnity, indemnification, restitution, redress(noun)
a sum of money paid in compensation for loss or injury
an obligation or duty upon an individual to incur the losses of another.
the right of an injured party to shift the loss onto the party responsible for the loss.
(insurance) a principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.
Origin: From indemnité, from indemnitas, from indemnis, from in- + damnum.
security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty
indemnification, compensation, or remuneration for loss, damage, or injury sustained
An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnitor may or may not be responsible for the loss suffered by the indemnitee. Forms of indemnity include cash payments, repairs, replacement, and reinstatement.
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