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The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a " guarantee " is an obligation of one party (the guarantor ) to another party to perform the promise of a relevant other party if that other party defaults .
When the right to hold a person liable through a lawsuit is waived, the waiver may be called an exculpatory clause, liability waiver, legal release, or hold harmless clause. In some cases, parties may sign a "non-waiver" contract which specifies that no rights are waived, particularly if a person's actions may suggest that rights are being waived.
Download as PDF; Printable version; ... Harmlessness or harmless may also refer to: Legal. Hold harmless, legal term in the contract law concept of indemnity;
Created Date: 8/30/2012 4:52:52 PM
An endorsement by the payee or holder which does not contain any additional notation (thus purporting to make the instrument payable to bearer) is an endorsement in blank or blank endorsement; An endorsement which purports to require that the funds be applied in a certain manner (e.g. " for deposit only ", "for collection") is a restrictive ...
Not all escrow agreements impose the duties of a legal trustee on the escrow agent, and in many such agreements, escrow agents are held to a mere gross negligence standard and benefit from indemnity and hold harmless provisions. If the escrow agent is licensed by governmental authority, [where?] then much higher legal standards may apply.
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