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In this tutorial, Elizabeth Potts Weinstein discusses indemnifications, explaining their significance and implications. Indemnification involves compensating another party for loss or damage, akin to insurance. The rationale for including an indemnification clause in contracts is to ensure fairness, where the party with more information or control over a transaction is held accountable should issues arise. For instance, if you hire someone for services, they should be responsible for any damages caused during the process. Understanding indemnification clauses is crucial to protecting oneself in business dealings.
