Look up Indemnity in Wiktionary, the free dictionary. An Indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B). Wikipedia does not have an article with this exact name. ...
Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 150 languages. ...
Compensation has several different meanings as indicated below. ...
General & Legal Meaning
In common parlance indemnity is often used as a synonym for compensation or reparation. Compensation has several different meanings as indicated below. ...
Reparations refers to two distinct ideas: Reparations for slavery of groups or individuals War reparations: Payments from one country to another as compensation for starting a war under a peace treaty, such as those made by Germany to France under the Treaty of Versailles. ...
As a legal concept, it has a more specific meaning. Compensation connotes merely a sum paid to make good the loss of another without regard to the payer's identity, or their reasons for doing so. As the following paragraphs should explain, an indemnity is a sub-species of compensation, in the same way that damages and reparations are. In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ...
Reparations refers to two distinct ideas: Reparations for slavery of groups or individuals War reparations: Payments from one country to another as compensation for starting a war under a peace treaty, such as those made by Germany to France under the Treaty of Versailles. ...
The obligation to indemnify differs from the obligation to pay damages, or make reparation, in that an obligation to indemnify is a voluntary obligation. If C crashes into B's car and damages it and the crash is due to C's negligence, most legal systems will impose liability upon C to pay B for the damage caused. C's obligation to B arises by force of law irrespective of whether C subjectively wishes to compensate B or not. This is not, therefore, a situation of indemnity; the relationship between B and C is involuntary. In legal terms it is a case of tortious (common law) or delictual (civil law) liability. In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ...
Reparations refers to two distinct ideas: Reparations for slavery of groups or individuals War reparations: Payments from one country to another as compensation for starting a war under a peace treaty, such as those made by Germany to France under the Treaty of Versailles. ...
In the most general sense, a liability is anything that is a hindrance, or puts individuals at a disadvantage. ...
This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
Civil law has at least three meanings. ...
But, if A had a contract with B under which A agreed to pay for any damage to B's car, then A paying B would be voluntary (even if A subjectively regretted the contract at this point). In legal terms A's liability is contractual and the sum paid is an indemnity. The contract just described between A and B is of course one relatively familiar to most (at least in the Western World) as one of car insurance. This article does not cite any references or sources. ...
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ...
It was stated in the first paragraph that the indemnifying party (A) may also be the party responsible for the loss. This is because whilst A will probably have a legal duty to compensate B (depending on the rules for damage wrongfully caused in the relevant legal system), A may also have a contractual duty to compensate B. Such indemnity clauses can be found in many contracts aside from those specifically for insurance. For instance, (staying with the automobile theme) a car rental contract may stipulate that the renter will be responsible for damage to the rental car caused by their reckless driving. In other words the renter will indemnify the rental company.
An obligation to indemnity can also be distinguished from a guarantee granted by one party in regard to the potential debts of another. For example A might agree to stand guarantor (or surety) for her son C (an impecunious law student) so that if C cannot afford to pay his rent to B (his canny landlord), A will be obliged to pay for him. Here, C is the one primarily responsible for payment of the rent. A's liability is only ancillary. The liability of an indemnifier, properly so-called, is primary. This distinction between indemnity and guarantee was discussed as early as the eighteenth century in Birkmya v Darnell.[1] In that case, concerned with a guarantee of payment for goods, rather than payment of rent, the presiding judge explained that a guarantee effectively says "Let him have the goods; if he does not pay you, I will." By contrast, an indemnity is like saying "Let him have the goods, I will be your paymaster."[2] This article needs to be wikified. ...
For other uses, see Debt (disambiguation). ...
A contract is a promise or an agreement that is enforced or recognized by the law. ...
A surety is a person who agrees to be responsible for the debt or obligation of another. ...
Rent can refer to: Renting, a system of payment for the temporary use of something owned by someone else. ...
A landlord, is the owner of a house, apartment, condominium, or real estate which is rented or leased to an individual or business, who is called the tenant. ...
(17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ...
Indemnity in particular legal systems
Commonwealth
Indemnity clauses Under section 4 of the Statute of Frauds 1677 indemnity clauses must be constituted in writing.
In the UK, under the Unfair Contract Terms Act 1977 s4, a consumer cannot be made to unreasonably indemnify another for their breach of contract or negligence. The Unfair Contract Terms Act 1977 is a British Act of Parliament which regulates contracts by restricting the operation and legality of some contract terms. ...
Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ...
Negligence is a legal concept usually used to achieve compensation for accidents and injuries. ...
- See also: Unfair Contract Terms Act 1977
The Unfair Contract Terms Act 1977 is a British Act of Parliament which regulates contracts by restricting the operation and legality of some contract terms. ...
Contract Award Indemnity in the common law of the UK may award indemnity as well as rescission during an action of Restitutio in integrum. The property and funds are exchanged but indemnity may be granted for costs nessesarily incured to the innocent party persuant to the contract. The leading case is Whittington v Seale[3], in which a contaminated farm was sold. Due to the contract the buyers renovated the Real estate and due to the contamination incured medical expenses for their manager who had fallen ill. Once the contract was rescinded, the buyer could be indemnified for the cost of renovation as this was nessesary to the contract, but not the medical expenses as the contract did not require them to hire a manager. Were the sellers at fault damages would clearly be available. This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
In contract law, rescission (to rescind or set aside a contract) refers to the cancellation of the contract between the parties. ...
The latin maxim restitutio in integrum (restoration to original condition) is one of the primary guiding principles behind the awarding of damages in common law negligence claims. ...
This article or section does not cite any references or sources. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
Farms, East of Gorgan, Iran. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
This article or section does not cite any references or sources. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
There are various types of faults: In document ISO/CD 10303-226, a fault is defined as an abnormal condition or defect at the component, equipment, or sub-system level which may lead to a failure. ...
In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ...
The distinction between indemnity and damages is subtle and can be defrentiated by considering the roots of the law of obligations. How can Money be paid where the defendant is not at fault? The contract before rescission is voidable but not void meaning that for a period of time there is a legal contract. During this time both parties have legal obligation. If the contract is to be voided ab initio the obligations performed must also be compensated. Therefore the costs of indemnity arise from the (transient and performed) obligations of the claimant rather than a Breach of obligation by the defendant.[4] In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ...
The Law of Obligations is one of the component elements of the civil law system of law and encompasses contractual obligations, quasi-contractual obligations such as unjust enrichment and extra-contractual obligations. ...
Moneys is an agreement within a community, to use something as a medium of exchange, which acts as an intermediary market good. ...
A defendant or defender is any party who is required to answer the complaint of a plaintiff or pursuer in a civil lawsuit before a court, or any party who has been formally charged or accused of violating a criminal statute. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
In contract law, rescission (to rescind or set aside a contract) refers to the cancellation of the contract between the parties. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...
Look up compensation in Wiktionary, the free dictionary. ...
Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ...
- See also: Restitutio in integrum
- See also: Rescission
- See also: damages
The latin maxim restitutio in integrum (restoration to original condition) is one of the primary guiding principles behind the awarding of damages in common law negligence claims. ...
In contract law, rescission (to rescind or set aside a contract) refers to the cancellation of the contract between the parties. ...
In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ...
Insurance
Freeing of slaves and servants Slave owners are said to suffer a loss whenever their slaves or servants are granted their freedom. A tacit belief exists that harm is caused to slave owners whenever slaves or servants are released. Slave owners may be paid to cover their losses.
When the slaves of Zanzibar were freed in 1897, it was by compensation since the prevailing opinion was that the slave owners suffered the loss of an asset whenever a slave was freed. Map of Zanzibars main island Zanzibar is part of Tanzania Coordinates: , Country Tanzania Islands Unguja and Pemba Capital Zanzibar City Settled AD 1000 Government - Type semi-autonomous part of Tanzania - President Amani Abeid Karume Area - Both Islands 637 sq mi (1,651 km²) Population (2004) - Both Islands 1,070...
1897 (MDCCCXCVII) was a common year starting on Friday (see link for calendar). ...
In the 1860s in the United States, U.S. President Abraham Lincoln had requested many millions of dollars from Congress with which to pay slave owners "for the loss of their property." On July 9th, 1868, part IV of the Fourteenth Constitutional Amendment dismissed all of the claims that slave owners had been injured by the freeing of the slaves.[5] For other uses, see Abraham Lincoln (disambiguation). ...
Media:Example. ...
Amendment XIV in the National Archives The Fourteenth Amendment to the United States Constitution (Amendment XIV) is one of the post-Civil War amendments (known as the Reconstruction Amendments), intended to secure rights for former slaves. ...
In 1807-08, in Prussia, statesman Baron Heinrich vom Stein introduced a series of reforms, the principal of which was the abolition of serfdom with indemnification to territorial lords.[citation needed] Motto Suum cuique Latin: To each his own Prussia at its peak, as leading state of the German Empire Capital Königsberg, later Berlin Government Duke1 - 1525–68 Albert I (first) - 1688–1701 Frederick III (last) King1 - 1701–13 Frederick I (first) - 1888–1918 William II (last) Prime Minister1,2...
Baron Heinrich vom Stein (1757-1831) was a Prussian statesman who introduced reforms that paved the way for the unification of Germany. ...
Haiti was required to pay an indemnity of 150,000,000 francs to France in order to atone for the loss suffered by the French slave owners.[citation needed]
Costs of war The nation that wins a war may insist on being paid compensations for the costs of the war, even after having been the creator of the war. - Following the Sino-Japanese War of 1894-95, the Treaty of Shimonoseki required that China pay Japan the sum of 200,000,000 taels (or liangs).[citation needed]
- China incurred an indemnity which resulted from massacres of foreigners during the Boxer Rebellion. The payment of 450,000,000 Haikwan taels, or $330,000,000 became necessary.[citation needed]
Combatants Qing Empire (China) Empire of Japan Commanders Li Hongzhang Yamagata Aritomo Strength 630,000 men Beiyang Army, Beiyang Fleet 240,000 men Imperial Japanese Army, Imperial Japanese Navy Casualties 35,000 dead or wounded 13,823 dead, 3,973 wounded The First Sino-Japanese War (Simplified Chinese: ; Traditional Chinese...
The ShunpanrÅ hall where the Treaty of Shimonoseki was signed The Treaty of Shimonoseki (Japanese: 下関æ¡ç´„, Shimonoseki JÅyaku), known as the Treaty of Maguan (T. Chinese: 馬關æ¢ç´„, S. Chinese: 马关æ¡çº¦;) in China, was signed at the ShunpanrÅ hall on April 17, 1895 between the Empire of Japan and the Qing Empire. ...
The tael (兩), PY: Liang, was part of the Chinese system of weights and currency. ...
Liang, a Chinese surname common in southern China. ...
This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling. ...
The tael (兩), PY: Liang, was part of the Chinese system of weights and currency. ...
References - ^ (1704) 1 Salk 27.
- ^ See also: Mountstephan v Lakeman (1871) LR 7 QB 196.
- ^ (1900) 82 LT 49
- ^ Furmston, M, Law of Contract, ed11 (2001).
- ^ Fourteenth Amendment and related resources at the Library of Congress; National Archives (USA): 14th Amendment
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