Liability vs. Indemnity

Liabilitynoun

An obligation, debt or responsibility owed to someone.

Indemnitynoun

Security from damage, loss, or penalty.

Liabilitynoun

A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk.

Indemnitynoun

(legal) An obligation or duty upon an individual to incur the losses of another.

Liabilitynoun

The likelihood of something happening.

Indemnitynoun

Repayment; compensation for loss or injury.

Liabilitynoun

The condition of being susceptible to something.

Indemnitynoun

(legal) The right of an injured party to shift the loss onto the party responsible for the loss.

Liabilitynoun

The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.

Indemnitynoun

(insurance) A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.

Liabilitynoun

That which one is under obligation to pay, or for which one is liable.

Indemnitynoun

Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty.

‘Having first obtained a promise of indemnity for the riot they had committed.’;

Liabilitynoun

the state of being legally obliged and responsible

Indemnitynoun

Indemnification, compensation, or remuneration for loss, damage, or injury sustained.

‘They were told to expect, upon the fall of Walpole, a large and lucrative indemnity for their pretended wrongs.’;

Liabilitynoun

an obligation to pay money to another party

Indemnitynoun

protection against future loss

Liabilitynoun

the quality of being something that holds you back

Indemnitynoun

legal exemption from liability for damages

Indemnitynoun

a sum of money paid in compensation for loss or injury

Indemnity

Indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party (indemnity holder) due to the acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to or .

‘hold harmless’; ‘save harmless’;