Answer:
Example:
(i) Insurance contract
(ii) Shipping company insurer
Step-by-step explanation:
we know that
Indemnity:
It is a type of compensation which can be paid by one person to another person because of damages or losses or incurred penalty
or it is exemption from liability for damages or losses
For example:
Insurance contract
In insurance contract , the insurer agrees to compensate for any damages to their customer
All the expenses will be taken care of insurer
Other example can be shipping company insurer
Answer:
Indemnity means a sum of money paid as compensation for loss, or restoring the insured person to the financial position he or she had before the loss occurred.
If Rob’s car is worth $2,500, he will receive $2,500 if his car is stolen, no more, no less.
Step-by-step explanation:
Edmentum
