TeachMeFinance.com - explain Indemnity
indemnity -- Obligation of one party to reimburse another
party for losses which have occurred or which may occur.
indemnity -- (1) payment for damage, a guarantee against losses. (2) a bond protecting the insured against losses caused by others failing to fulfill their obligations. (3) the granting of exemption from prosecution. (4) an option to buy or sell a specific quantity of stock at a stated price within a given period of time.
Indemnity -- 1. A compensation to make a person whole from a loss already sustained.
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