California Form of Indemnification Agreement by Kyle Technology Corp.
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How to fill out Form Of Indemnification Agreement By Kyle Technology Corp.?
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FAQ
Under Section 317, subdivision (b), California corporations have the power to indemnify any person who was or is a party or is threatened to be made a party (other than an action by or in the right of the corporation to procure a judgment in its favor) by reason of the fact that the person is or was an agent of the ...
Section 2802 - Indemnification for necessary expenditures and losses incurred in direct consequence of discharge of duties (a) An employer shall indemnify his or her employee for all necessary expenditures or losses incurred by the employee in direct consequence of the discharge of his or her duties, or of his or her ...
Under a first party claim, A agrees to indemnify B for loss or damage incurred as a result of the conduct of A, regardless of whether C exists or makes a claim against B. Essentially A indemnifies B for B's own losses.
By statute, you cannot have another party indemnify you against damages that result your sole negligent or willful acts. If such a clause is in a contract it is void. Thus under California law, the person seeking indemnity from the other party must have some degree of fault for the harm that results in the liability.
Under Section 317, subdivision (b), California corporations have the power to indemnify any person who was or is a party or is threatened to be made a party (other than an action by or in the right of the corporation to procure a judgment in its favor) by reason of the fact that the person is or was an agent of the ...
On this page you'll find 61 synonyms, antonyms, and words related to indemnification, such as: compensation, indemnity, restitution, benefit, counterclaim, and coverage.
An agreement to indemnify a person against an act thereafter to be done, is void, if the act be known by such person at the time of doing it to be unlawful. 2774. An agreement to indemnify a person against an act already done, is valid, even though the act was known to be wrongful, unless it was a felony. 2775.
Background and Current Law Under California Civil Code Section 2778, specified rules apply to an obligation to indemnify, unless the contracting parties express the intention that those rules will not apply. The indemnity against claims, demands or liability includes the costs of defending against them.