Search results
Results from the WOW.Com Content Network
An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
For countries that renounced any reparations from Japan, it agreed to pay an indemnity and/or grants in accordance with bilateral agreements. In the Joint Communiqué of the Government of Japan and the Government of the People's Republic of China (1972), the
The Indemnity Act 61 of 1961 was a law enacted by the apartheid government in South Africa, which protected the government from any legal repercussions of the Sharpeville massacre and other violent events that followed. It prevented the courts from hearing any criminal charges or civil claims against the government, its leaders or its employees ...
In legal terms, an Act of Indemnity is a statute passed to protect people who have committed some illegal act which would otherwise cause them to be subjected to legal penalties. International treaties may contain articles that bind states to abide by similar terms which may involve the parties to the treaty passing domestic legislation to ...
The German Government was to issue bonds at five per cent interest and set up a sinking fund of one per cent to support the payment of reparations. [ 32 ] In the London ultimatum of 5 May, Germany was given six days to recognize the Schedule of Payments and to comply with the Treaty of Versailles' demands for disarmament and the extradition of ...
Title insurance is a form of indemnity insurance, predominantly found in the United States and Canada, that insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans.
While many kinds of civil procedures devices occur in the form of motion, an impleader action is technically its own lawsuit. [1] Impleader is frequently used for indemnification, such as an insurance policy or their employer. If for example a defendant is in a car accident, and their insurance policy includes an indemnification clause, they ...
The co-extensive, secondary nature of the liability of the guarantor along with the fact that the guarantee is a contract to answer default, debt, or miscarriage; crucially differentiates the guarantee from an indemnity. [10]