is a double indemnity clause an example of consideration
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Double Indemnity  (film) The term  double indemnity  refers to a clause in certain life insurance policies that doubles the payout in cases when death is caused while riding a railway or other public transport means. Praised by many critics when first released, Double Indemnity was nominated for seven Academy Awards but did not win any. Widely regarded as a classic, it is often cited as a paradigmatic film noir and as having set the standard for the films that followed in that genre.
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Consideration In an insurance contract, the insured person makes a premium payment (consideration now ) and promises to comply with the provisions of the policy (consideration future). In return, the insurance company promises to pay in accordance with the terms of the contract.
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Indemnity Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident.
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Consideration The required elements of consideration include: 1  The contract must include a bargain for the terms of the exchange. 2  There must be a mutual exchange between the parties. 3  The exchange in the contract must be something of value.
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Contract Consideration In order for any contract to be enforceable, courts generally require three things: mutual assent (agreement to the contract terms), a valid offer and acceptance, and consideration. Consideration is basically the exchange of something of value in return for the promise or service of the other party. A legal consideration is one which results in either profit to one party or loss to another.
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indemnity Indemnity is defined as protection from damage, injury, financial loss or legal liability. When you buy insurance and your insurance protects you from being sued or from financial loss, this is an example of indemnity. indemnity. pl. protection or insurance against loss, damage, etc.
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indemnity indemnity-Legal Definition. n. 1  A duty, typically arising from contract, in which one promises to make good another’s financial loss or liability, resulting from a particular event or contingency.ndemnity is defined as protection from damage, injury, financial loss or legal liability. When you buy insurance and your insurance protects you from being sued or from financial loss, this is an example of indemnity.
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Adult Film Star Channon Rose Gets Possessed on Camera in This Isnât a Movie Channon Rose and Travis Dean aren’t filmmakers or seeking fame via a pseudo reality show. Channon is a beautiful print model with her own beauty blog; Travis comes from the corporate world with an 8-5 job.
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- Consideration: Valuation. Background. In M&A deals, it is common for part of the consideration to be contingent upon earnings. performance over single or multiple periods. Such structures can help bridge the gap. between the buyer’s and seller’s valuation and earnings expectations. They can also provide.
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Indemnity While the events giving rise to an indemnity may be specified by contract, the actions that must be taken to compensate the injured party are largely unpredictable, and the maximum compensation is often expressly limited. An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
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Consideration Consideration is the concept of legal value in connection with contracts. It is anything of value promised to another when making a contract. In common law it is a prerequisite that both parties offer consideration before a contract can be thought of as binding.
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The doctrine of consideration (6) The doctrine of consideration and the law on deeds may require supplementation in so far as it is the case that we should enforce a promise not made in a deed even though the promisee has done absolutely nothing that would give us a reason to want to enforce that promise.
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Indemnity Look up indemnity in Wiktionary, the free dictionary. An indemnity is an obligation by a person (indemnitor) to provide compensation for a particular loss suffered by another person (indemnitee). An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
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- What is 'Indemnity Insurance' Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment. Typical examples of indemnity insurance include professional insurance policies such as malpractice insurance and errors and omissions insurance, which indemnify professionals against claims made in the conduct of their business.
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- partially the cause of the loss, you should only be required to pay part of the damages. Insertion of the phrase “to the extent” and the word “negligence” into the first sentence of the sample indemnification clause and deletion of the word “sole” from the last sentence is the best way to avoid the trap. Thus, the indemnification clause with
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What is 'Indemnity' DEFINITION of 'Indemnity'. Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability for damages.The concept of indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for potential losses or damages caused by the other party.he word indemnity stems from the Latin root indemnis, meaning unhurt, undamaged or without loss.. Indemnity may be paid in the form of cash, or by way of repairs or replacement, depending on exactly what is spelled out in the indemnity agreement.
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- The consideration of a mortgage ordinarily is an advancement or loan, past or present, made by a mortgagee to the mortgagor. It is usual for the mortgagor to insure the property for the benefit of the mortgagee. It is not necessary that the mortgagor have absolute, unencumbered title to the property to give a mortgage.
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Consideration in English law Consideration in English law. (Redirected from Consideration under English law) Consideration in English law is one of the four main building blocks of a contract. Consideration can be anything of value (such as an item or service), which each party to a legally binding contract must agree to exchange if the contract is to be valid.
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Part 3: Consideration & Deeds 1 The consideration cannot be something or some act which is illegal, immoral or contrary to public policy (see also the section on Restraint of Trade contracts). 2  If a certain act is punishable by some law, then it is illegal. 3  An example would be a work contract to an unlicensed electrician.
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Contract Consideration 1 In addition to monetary sums, consideration can also involve a promise to do something, or a promise not to do something. For example, a promise to quit drinking alcohol may be considered adequate consideration.  Past consideration is never adequate.
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Consideration The doctrine of consideration is irrelevant in many jurisdictions, although contemporary commercial litigant relations have held the relationship between a promise and a deed is a reflection of the nature of contractual considerations. If there is no element of consideration found, there is thus no contract formed.
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- As a gross oversimplification, an indemnity clause allows you (the indemnitee) to seek reimbursement (indemnity) for money you are forced to pay to a third party as a result of an injury, physical or monetary, caused by the party from whom you seek the reimbursement (the indemnitor).early every contract contains an indemnity clause. These clauses are so common, that many don't even read them, assuming that they are inconsequential boilerplate. Nothing could be further from the truth.
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Merryweather v. Pendleton THIS INDENTURE, made the day of , BETWEEN. party of the first part, and. party of the second part, WITNESSETH, that the party of the first part, in consideration of ten dollars and other valuable consideration. paid by the party of the second part, does hereby remise, release and quitclaim unto the party of the second.
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Formation of contracts Consideration is the requirement of reciprocal obligations on the parties to a contract. Both parties must receive valuable consideration for performance of their side of the contract. Consideration is not required in Scotland where donation is accepted in the law of contract.
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Introduction to Consideration Section 25 of the Indian Contract Act, 1872, generally declares that an agreement without consideration is void. The Section, however, provides exceptions to the rule stated as under: “25. An agreement made without consideration is void unless – 1.he words “has done and abstained from doing”, in Section 2(d) of the Indian Contract Act, 1872, according to Pollock and Mulla25 “declare the law to be that an act done by A at B’s request, without any contemporaneous promise from B, may be consideration for a subsequent promise from B to A.”. 22 23. Mst.
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Obsidian The most common color combination is black and brown obsidian swirled together - that's called mahogany obsidian (see photo). As a glass, obsidian is chemically unstable. With the passage of time, some obsidian begins to crystallize. This process does not happen at a uniform rate throughout the rock. Instead it begins at various locations within the rock. At these locations, the crystallization process forms radial clusters of white or gray cristobalite crystals within the obsidian.