Indemnity

{
  "id": "MLC-T-LAW-002593",
  "term": "Indemnity",
  "field": "Law",
  "definition": "A contractual agreement or legal obligation by which one party promises to compensate another for losses or damages suffered. It serves to protect a party from financial liability or harm caused by a third party or a specific event. Insurance policies are a common form of indemnity, where the insurer agrees to cover specified losses.",
  "url": "https://mlchart.com/terminology/law/indemnity/"
}