Indemnity

[ɪn'demnɪtɪ] or [ɪn'dɛmnəti]

Definition

(noun.) legal exemption from liability for damages.

(noun.) protection against future loss.

Editor: Maureen--From WordNet

Definition

(n.) Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty.

(n.) Indemnification, compensation, or remuneration for loss, damage, or injury sustained.

Inputed by Bertha

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