What does it mean to defend indemnify and hold harmless?

Indemnification, according to the court, is “an offensive right—a sword—allowing the indemnitee to seek indemnification.” On the other hand, hold harmless is a defensive measure providing “[t]he right not be bothered by the other party itself seeking indemnification.” Under this view, hold harmless shields one party …

What does it mean to defend and indemnify?

In this approach, a party would provide a duty to defend the other party against third party claims arising from certain acts, omissions, and occurrences, and with respect to such claims, would indemnify the other party from and against defense costs (attorneys’ fees and other litigation expenses), indemnitor-agreed …

What is difference between hold harmless and indemnity?

Take “indemnify” and “hold harmless.” Double trouble—or a distinction with a difference? At least one authority claims that “hold harmless” protects against losses and liabilities, while “indemnify” protects against losses alone. Yet not all courts agree. Black’s Law Dictionary treats the two as near synonyms.

What is the purpose of a hold harmless clause?

A hold harmless agreement protects business owners from being sued when someone suffers damage, bodily injury, or financial loss on business property or while a service is being provided.

What does it mean when you indemnify someone?

To indemnify another party is to compensate that party for losses that that party has incurred or will incur as related to a specified incident.

What does agree to indemnify mean?

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.‌

What does hold harmless means?

Legal Definition of hold harmless : of, relating to, or being an agreement between parties in which one assumes the potential liability for injury that may arise from a situation and thus relieves the other of liability a hold harmless agreement a hold harmless clause — compare release.

What does it mean to indemnify someone?

What does hold harmless mean?

What does indemnify mean in legal terms?

An indemnity in a contract is a promise by one party to compensate the other party for loss or damage suffered by the other party during contract performance. An indemnity is also known as a ‘hold harmless’ clause as one party agrees to hold the other party harmless.