☩ SOTERIAN GLOSSARY ☩

Living Language Lexicon of the Soteria Covenant

Indemnification

A contractual obligation by which one party agrees to compensate another for any loss, damage, or liability that may be incurred, shifting the economic risk from the indemnitee to the indemnitor.

Etymology: Latin 'indemnificare' (to make free from loss), from 'in-' (not) + 'damnum' (loss, damage) · Category: General Legal Terms · Source: Black's Law Dictionary, 11th Ed.
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