The compensation process may take some time, but you will be compensated. We have to turn to Jack for redress because I think it was his plan to live in Lickinghole. When does compensation come into play and in what context? One of the best examples of compensation is in the context of insurance, where an insurance company insures an owner against damage to their home – the insurer compensates the homeowner. In a business context, a indemnification provision protects one party from damages and costs caused by failures and errors of the other party. For example, if a seller promises that their tax preparation software is free of defects and compensates the buyer, the buyer can claim whether the software used the previous year`s tax tables. Contractual Advice – The indemnification clause (part 3)A party that provides compensation essentially acts as an insurance company for the other party. Any costs, expenses or fees paid by the person entitled to compensation resulting from the actions of the person entitled to compensation will be reimbursed by the person entitled to compensation that will not compensate us in the event of a crisis. It prepares me for who, what and where I need to be to navigate this thing more effectively. 🙌🏾 Kem ya`ll He has to go to London and take the compensation he could take in the domestic circle before. What are the words that share a root or word element with compensation? Example: Insurance companies are in the realm of compensation – you pay them a small amount so they can pay you a high amount if something serious happens. A common example of compensation can be found in the settlement of insurance cases. This often happens when an insurance company agrees, under a person`s insurance policy, to compensate the insured person for losses suffered by the insured person as a result of an accident or property damage.
In this type of agreement, Party A would bind Insurance Company B. If Part A and Part C are involved in an incident that results in property damage or personal injury (for example. B a car accident), insurance company B would assume any liability for which Party A could be responsible. After that, Insurance Company B would typically sue Part C for damages. The verb to compensate also means to hedge against future losses. Farmers have taken out insurance to compensate themselves and their animals for catastrophic losses. The word compensate comes from the Latin word indemnnis, which means “unharmed”. The city wanted to close an old local monument because they feared it would no longer meet modern safety standards, but local residents wanted it preserved. In a compromise, the owners agreed to exempt the city from possible losses and the landmark was allowed to remain. The prevention of personal liability exemption may also be considered in the context of protecting directors and officers of a corporation from personal liability (i.e., as a protective barrier) for debts and decisions made on behalf of the corporation. In other words, a director/officer of a company is not responsible (if properly maintained) for the debts or obligations of the company. Schwartz says there is little data to support the idea that ending qualified immunity for police officers would be costly due to widely used compensation laws.
Pay, compensate, remunerate, satisfy, reimburse, compensate, repay, compensate, compensate, give money or its equivalent in exchange for something. The salary implies the fulfillment of a commitment made. The invoices paid compensate for a catch-up of the services provided. A lawyer who is well paid for his services clearly suggests paying for the services provided and can extend to a generous or unintracted payment. Promising to satisfy researchers means paying a person what is required by law. All creditors will be satisfied in full repayment, which implies a repayment of the money spent for the benefit of another. Employee reimbursement for expense compensation involves compensation for a loss caused by an accident, disaster and war. The families of deceased minors are compensated reimbursement Charges Reimbursement of an equivalent value in the form of benefits in kind or in amount. Repaying a favor with a courtesy penalty indicates reasonable performance in the form of repairs, friendly refunds, or rewards. Passengers were compensated for the delay COVAX also created incentives to ensure that manufacturers could produce the cans on a large scale at the time of their approval, and to ensure that important legal safety nets were in place without fault, compensation and liability. It then became necessary to determine the amount of compensation to which the injured party is entitled.
In company law, a remuneration agreement can compensate the directors of a company. This type of compensation protects them from face-to-face lawsuits if the company is sued. An estimate of the gross amount may be made and a corresponding amount may be made available for compensation. The Indemnitor would be a great cartoon character. Compensation wherever compensation is due! The Indemnitor! What words are often used to discuss compensation? Is compensation used correctly in the next sentence? Gurley has never been involved in a transaction involving a set-off clause. “It was atypical for me.” The words compensation, compensation, compensation, beneficiary of compensation (the one who receives the protection) and the beneficiary of the compensation (the one who provides the coverage) are used in the context of insurance and legal contracts. Insurance coverage compensates the policyholder, i.e. it protects against financial liability for damage or loss. Damage refers to things that happen to a property like a car or house, or the injuries a person suffers. Loss refers to things like the loss of income you might experience because they can`t work. If a person entitled to compensation is compensated for these things, he or she will be compensated by the person entitled to compensation for (at least part of) the money lost or spent.
The compensation process or the compensation itself is compensation. In compensation for the loss of their slaves, owners received on average about a third of the value from them. What are the other forms of compensation? I was held responsible for all sorts of compensation in case something went wrong because these weren`t standard tests. Here`s an example of what a typical indemnification clause might look like: “Party A will perform the work at its own risk and indemnify Party B for all losses, damages, costs and liabilities arising from the breach of property.” In this example, Party A agrees that even if Party B had been held liable for a lawsuit in court, Party B is not liable to indemnify Party A for any loss, damage, expense or other liability associated with that action. The compensation provisions are powerful! Compensation provisions can be a very powerful form of protection for a company. When drafting or negotiating a contract, be sure to consider the value of a compensation provision and be careful when offering compensation if you don`t understand the risks. Our clients often ask, “What is compensation?” A set-off provision is one of the most common and commonly used provisions in negotiating any type of contract, and yet the parties to a contract often do not understand its meaning. The first records of the word reparation date back to the 1730s. It is ultimately derived from the Latin indemni(s), which means “lossless”. This is formed from the prefix in-, which has a negation effect that corresponds to one- and demn-, from damnum, which means “loss”. When a compensation provision is triggered, one party pays the other party`s costs, judgments, settlements, attorneys` fees, costs and penalties.
Compensation is sometimes used metaphorically to mean “protect” because in your wealth you are not compensated by diseases. Compensation can also be used for this purpose. Indemnifying another party means compensating that party for any loss suffered or to be suffered by that party in connection with a particular incident. Contractual transfer of monetary responsibilities The concept of compensation generally appears in contracts where it is possible that a part may be lost or damaged during the term of the contract or due to the circumstances of the contract. If you can get them to take a step towards the right hand, they usually compensate each other by cutting a capriole to the left. This coverage will compensate you in case of flooding. The NBA announces a deal with Sterling Trust and cancels the hearing. Rochelle Sterling agrees to compensate the league for the husband`s lawsuit. .