indemnity

indemnity
/in dem"ni tee/, n., pl. indemnities.
1. protection or security against damage or loss.
2. compensation for damage or loss sustained.
3. something paid by way of such compensation.
4. protection, as by insurance, from liabilities or penalties incurred by one's actions.
5. legal exemption from penalties attaching to unconstitutional or illegal actions, granted to public officers and other persons.
[1425-75; late ME indem(p)nite < L indemnitas, equiv. to indemni(s) without loss (in- IN-3 + -demn-, comb. form of damn- (s. of damnum loss; see DAMN) + -is adj. suffix) + -tas -TY2]

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Universalium. 2010.

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  • indemnity — The act of one party protecting or guaranteeing protection, or freedom from liability, of a third party for actions of that party. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • indemnity — (n.) mid 15c., from M.Fr. indemnité (14c.), from L.L. indemnitatem (nom. indemnitas) security for damage, from L. indemnis unhurt, undamaged, from in not, opposite of, without (see IN (Cf. in ) (1)) + damnum damage (see DAMN (Cf …   Etymology dictionary

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  • indemnity — ► NOUN (pl. indemnities) 1) security or protection against a loss or other financial burden. 2) security against or exemption from legal responsibility for one s actions. 3) a sum of money paid as compensation, especially by a country defeated in …   English terms dictionary

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  • Indemnity — An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B). Forms of indemnity include cash payments …   Wikipedia

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