Erase phone in the Indemnification Agreement

Aug 6th, 2022
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How to erase phone in the Indemnification Agreement

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[Music] hey everybody im rob freeman and welcome back to ensuring the built environment this week were answering the question what is a hold harmless and why is it important in the world of insurance well a hold harmless is a common legal clause that youll find in contractual agreements that are between multiple parties so you may have an example would be like a lease between a landlord and a tenant or another example would be in a construction agreement between say an owner and a general contractor or subcontractor or all three and what a hold harmless does is it essentially shifts responsibility away from one party onto another party and its a very common thing to find in a lease for instance in if you have a lease in an office building you may find theres a clause in there which says something to be effective the tenant agrees to indemnify defend and hold the landlord harmless in the event of any claims of bodily injury and property damage that might arise out of the tenants o

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Without an indemnity clause, a party may bring a claim for damages resulting from the other partys bdocHub of contract, subject to any liability cap agreed between them on a commercial basis.
An indemnity clause can allow parties to bypass the above limitations of the common law and allocate risk in cases where a bdocHub of contract has occurred. Such clauses therefore alter the common law or statutory rights of the parties.
Courts have commonly held that a plaintiff cant recover damages under an indemnity clause to the extent that the damages are an unforeseeable and improbable outcome of the other partys bdocHub, negligence, or misconduct (unless it can be shown that the indemnifying party had knowledge of the relevant circumstances).
Indemnification clauses are generally enforceable, but there are important qualifications. Some courts hold that broad form or no fault indemnifications, which are blind to fault on the part of either party, violate public policy.
The indemnification clause is a crucial element in commercial contracts as it helps mitigate the risks and consequences associated with potential bdocHubes of contracts. This clause also ensures that the parties are fairly compensated for their losses and helps maintain a stable and predictable business relationship.
By limiting your indemnity obligation to the extent of damages arising from the lease or your occupancy, you disclaim responsibility for damages arising from something other than the lease, such as the owners failure to maintain the buildings parking lot.
Not true they can be sued irrespective of the existence of the indemnification or not all the indemnification does is allow the person whos indemnified and being sued to turn to the person who indemnified them and say youre responsible for the payment of the fees and the cost of this lawsuit and any damages youre to

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