The indemnity agreement is included in the post-incorporation processes of companies. ==Historical examples== ===Freeing of slaves and indentured servants=== Slave owners were considered to have suffered a loss whenever their slaves were granted their freedom. When the slaves of Zanzibar were freed in 1897, it was by compensation since the prevailing opinion was that the slave owners suffered the loss of an asset whenever a slave was freed. In the 1860s in the United States, U.S.
The indemnity agreement is included in the post-incorporation processes of companies. ==Historical examples== ===Freeing of slaves and indentured servants=== Slave owners were considered to have suffered a loss whenever their slaves were granted their freedom. When the slaves of Zanzibar were freed in 1897, it was by compensation since the prevailing opinion was that the slave owners suffered the loss of an asset whenever a slave was freed. In the 1860s in the United States, U.S.
The Unfair Contract Terms Act 1977 stated that a consumer cannot be made to unreasonably indemnify another for their breach of contract or negligence, though this section was repealed by the Consumer Rights Act 2015 schedule 4 paragraph 6. ===Contract award=== In England and Wales an "indemnity" monetary award may form part of rescission during an action of restitutio in integrum.
UTAH CODE § 78B-6-707." In 2012–2014, a New Jersey woman had to pay a lawyer to get out of an indemnity payment for injury at a storage unit.
When someone slipped on ice in 2012, while going to a unit, Public Storage sued in court to make the woman who rented the unit pay for the injury.
In 2014, the US District Court said this specific indemnity clause was unenforceable in New Jersey, because it covered Public Storage's own negligence without explicitly saying so, contrary to New Jersey law (other states differ). A 2013 decision in New Jersey upheld a broad indemnity clause, since it was followed by another sentence, "indemnity agreement is intended to be as broad and inclusive as is permitted by the law of the State of New Jersey".
In 2014, the US District Court said this specific indemnity clause was unenforceable in New Jersey, because it covered Public Storage's own negligence without explicitly saying so, contrary to New Jersey law (other states differ). A 2013 decision in New Jersey upheld a broad indemnity clause, since it was followed by another sentence, "indemnity agreement is intended to be as broad and inclusive as is permitted by the law of the State of New Jersey".
The Unfair Contract Terms Act 1977 stated that a consumer cannot be made to unreasonably indemnify another for their breach of contract or negligence, though this section was repealed by the Consumer Rights Act 2015 schedule 4 paragraph 6. ===Contract award=== In England and Wales an "indemnity" monetary award may form part of rescission during an action of restitutio in integrum.
Indemnity can be extremely costly, since X's liability insurance typically does not cover claims against Y, but X still has to cover them. In 2017, the Utah Supreme Court said that "By statute, a contractual provision requiring a purchaser of a product to indemnify a manufacturer is 'void and unenforceable' in certain circumstances.
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Page generated on 2021-08-05