California Form of Indemnification Agreement by Kyle Technology Corp is a legally binding contract designed for the purpose of providing protection and financial security to individuals or entities involved in specific business transactions. This agreement ensures that one party, referred to as the indemnity holder, is duly compensated for any losses, damages, liabilities, or expenses incurred due to the actions or omissions of the other party, known as the indemnifying party. Kyle Technology Corp offers various types of California Form of Indemnification Agreements to cater to specific business needs and circumstances. These agreements may include: 1. General Indemnification Agreement: This type of agreement provides broad indemnification coverage to the indemnity holder for any claims arising from a specified transaction, project, or business relationship. It encompasses a wide range of potential risks and liabilities, providing comprehensive protection. 2. Limited Indemnification Agreement: This agreement restricts the scope of indemnification, usually specifying certain predefined scenarios or risks where the indemnifying party agrees to compensate the indemnity holder. It offers more limited protection compared to a general indemnification agreement. 3. Third-Party Indemnification Agreement: This form of indemnification agreement pertains to situations where a third party may bring a claim against the indemnity holder due to the actions of the indemnifying party. It ensures that the indemnity holder is financially safeguarded against any potential legal proceedings or liabilities resulting from such third-party claims. 4. Cross-Indemnification Agreement: In complex business transactions involving multiple parties, a cross-indemnification agreement is employed to allocate responsibility and potential liabilities among the involved parties. This agreement ensures that each party bears the consequences of their own actions or omissions, protecting all parties involved. California Form of Indemnification Agreement by Kyle Technology Corp is a comprehensive legal tool aimed at safeguarding the interests of businesses and individuals during contractual engagements. It is recommended to consult legal professionals or Kyle Technology Corp representatives to ensure the specific agreement meets the unique needs and requirements of the parties involved.
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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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.