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in this video I want to take a look at indemnities what is in an indemnity and what are the essential features and benefits of an indemnity its a word that you might have come across from time to time and it arises in contracts it also arises in relation to purchasing houses from builders and so forth an identity is a contractual term which promises to reimburse another party in respect of a loss or damage the only party indemnified is the one that is identified as the beneficiary of the indemnity if the benefit of that indemnity is to be transferred to another party it must be done formally so typically in relation to a property in a housing estate for example there may be indemnities from the Builder to the purchaser of the house to carry out certain works and maintain the place before the council takes the house in charge and if the house is sold before the council takes the estate in charge then the benefit of that indemnity must be assigned from the vendor of the property to the
