An Indemnity is a sum paid by A to B by way of
compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B). Methods of indemnity:- a. Payment of cash b. Repairs c. Replacement d. Reinstatement
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INDENNITÀ. INDENNIZZO. ASSICURAZIONE. GARANZIA. CONDONO. ESONERO
indemnity
\in*dem"ni*ty\ (?), n.; pl. indemnities (#). [l. indemnitas, fr. indemnis uninjured: cf. f. indemnité. see indemnify.]
1. security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty. having first obtained a promise of indemnity for the riot they had committed. w. scott.
2. indemnification, compensation, or remuneration for loss, damage, or injury sustained. they were told to expect, upon the fall of walpole, a large and lucrative indemnity for their pretended wrongs. mahon.
note: insurance is a contract of indemnity. --arnould. the owner of private property taken for public use is entitled to compensation or indemnity.
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