indemnity law

Indemnity law involves agreements where one party agrees to compensate another for specific losses or damages. Essentially, it’s a promise to protect someone financially if they suffer harm, losses, or legal liabilities related to certain activities or situations. For example, a construction company might indemnify a client against damages caused during work. The purpose is to shift potential costs from one party to another, ensuring that the injured or impacted party isn’t financially burdened. Indemnity clauses are common in contracts, insurance policies, and business arrangements to manage risk and provide a safety net against unforeseen liabilities.