Welcome to the 1520 Perfect Dictionary
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| Indemnification (1) | |
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| INDEMNIFICATION (1) Definition: An act of promise to pay somebody an amount of money if they suffer any damage or loss. ______________________________________________________________________ * All seven elements should be in. 1. Purposeful and necessary to make promise. 2. Voluntarily made. And/or if made under compulsion, arrangement will be recognized in law. 3. Risk that is involved in the endeavour to be undertaken is known. That is, the extent of possible damage or loss can be estimated. 4. The wherewithal to fulfil pledge is possessed. 5. Exact circumstances or conditions, that will guide the proposed payment, when this will be due, are clear and unmistakable. 6. Pledge is meant. That is, there is a genuine intention to pay sum, if damage or loss occurs. (To emphasize.) 7. No request will be made for any sort of material guarantee, that pledge will be honoured. That is, an assurance or confirmation will not be requested in the situation. _____________________________ See perfect PROMISE (1). | |
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1520 Products was established in 2005 with the purpose of entertaining and teaching us on key and important aspects of life (such as marriage, sex, etc) through the playing of games which will allow us to laugh but at the same time pass a message of what is the right or ideal way. |
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