Wednesday, April 21, 2010

Indemnity- easy for one to understand......

"To restore the victim of a loss, in all or in part, by payment, repair or replacement.

"To save harmless; to secure against loss or damage; to give security for the reimbursement of a person in case of an anticipated loss falling upon him.

"To make good; to compensate; to make reimbursement to one of a loss already incurred by him.

"In my opinion, the concept of indemnity has central to it the idea of compensation, of making good, of paying moneys to a person, to reimburse them for losses sustained."

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