A contractual obligation of one party to compensate the loss incurred to the other party. Indemnity. In history, indemnity often involved one country paying another after losing a war to cover damages and expenses.
Indemnity: A contractual obligation of one party to compensate the loss incurred to the other party. Indemnity. In history, indemnity often involved one country paying another after losing a war to cover damages and expenses.
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