legal indemnity

Legal indemnity is a commitment where one party agrees to compensate another for specific losses or damages that may arise, often related to legal actions or liabilities. Essentially, it's a promise to "cover the costs" if certain issues occur, providing reassurance and financial protection. This arrangement is common in contracts or property transactions, ensuring that if unforeseen legal problems emerge, the indemnifying party will bear the expenses, helping to allocate risk and protect the indemnified party from potential financial harm.