Here is the question :
ONE PARTY PAYING ANOTHER FOR LOSSES AND DAMAGES IS CALLED WHAT?
Here is the option for the question :
- Jeopardy
- Financial acquiescence
- Payback
- Indemnity
The Answer:
And, the answer for the the question is :
Indemnity
Explanation:
[STC009389]. An agreement between two parties in which one party agrees to reimburse the other party for losses and damages is known as an indemnification provision in contract law. Indemnity can cover trial expenditures in a variety of criminal and civil matters, despite the fact that it is most commonly a consideration in insurance disputes. The English word ‘indemnity’ originates from the Latin word ‘indemnis,’ which means ‘free from loss.’