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  2. Indemnity - Wikipedia

    en.wikipedia.org/wiki/Indemnity

    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).

  3. Liquidated damages - Wikipedia

    en.wikipedia.org/wiki/Liquidated_damages

    Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3]

  4. Surety - Wikipedia

    en.wikipedia.org/wiki/Surety

    The bond typically includes an indemnity agreement whereby the principal contractor or others agree to indemnify the surety if there is a loss. [19] In the United States, the Small Business Administration may guaranty surety bonds; in 2013 the eligible contract tripled to $6.5 million. [20]

  5. No-fault insurance - Wikipedia

    en.wikipedia.org/wiki/No-fault_insurance

    24 states originally enacted no-fault laws in some form between 1970 and 1975; several of them have repealed their no-fault laws over time. Colorado repealed its no-fault system in 2003. Florida's no-fault system sunsetted on 1 October 2007, but the Florida legislature passed a new no-fault law which took effect 1 January 2008.

  6. Title insurance - Wikipedia

    en.wikipedia.org/wiki/Title_insurance

    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.

  7. Vicarious liability - Wikipedia

    en.wikipedia.org/wiki/Vicarious_liability

    Vicarious liability is a form of a strict, secondary liability that arises under the common law doctrine of agency, respondeat superior, the responsibility of the superior for the acts of their subordinate or, in a broader sense, the responsibility of any third party that had the "right, ability, or duty to control" the activities of a violator.

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