According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

Directors leave boards for a variety of reasons, including personal issues, the company’s financial situation, M&A, etc. While directors may have good reason to leave, doing so can leave them feeling ...

Service as a corporate director or officer entails significant personal risk. If the corporation is involved in any kind of dispute or investigation, its directors and officers (D&O’s) can expect to ...

Hotel management agreements, like other commercial contracts, often contain clauses apportioning liability among the parties for potential losses or damages arising out of specific events or actions.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Indemnification is used for risk allocation Indemnification may include defense obligation Indemnified party is entitled to reimbursement for covered losses Indemnification can be complex and heavily ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Tax penalty. Appointment of court punishment for non-payment of ...