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In this tutorial, Elizabeth Potts Weinstein discusses indemnifications, explaining their significance in contracts. Indemnification refers to compensating someone for hurt, loss, or damage, akin to insurance. The rationale for including an indemnification clause in contracts is based on fairness; typically, one party has more control or information in a business transaction. Therefore, it is just for the party with that control to bear responsibility if issues arise. She emphasizes the importance of understanding these clauses to protect oneself in various business dealings.
