obligation to indemnify
1SURETYSHIP — (Heb. עַרְבוּת), one person s undertaking to fulfill the obligation of another toward a third person (called the arev, ḥayyav, and nosheh, respectively). In Jewish law fulfillment of an obligation is secured primarily through the assets of the… …
2Indemnity — An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B). Forms of indemnity include cash payments …
3indemnifier — ə̇nˈdemnəˌfī(ə)r noun ( s) : one that indemnifies or that is under obligation to indemnify * * * indemˈnifier noun • • • Main Entry: ↑indemnify …
4deductible — de·duc·ti·ble 1 /di dək tə bəl/ adj: allowable as a deduction de·duc·ti·bil·i·ty / ˌdək tə bi lə tē/ n deductible 2 n: a clause in an insurance policy that relieves the insurer of responsibility for an initial specified loss of the kind insured… …
5basket — USA This term has a number of meanings. In the context of: • Finance, business jargon used to refer to a maximum dollar amount for a specific exception to a covenant restriction in a financing agreement. For example, a loan agreement may limit… …
6threshold — thresh·old 1 / thresh ˌhōld/ n: a point of beginning: a minimum requirement for further action; specif: a determination (as of fact or the existence of a reasonable doubt) upon which something else (as further consideration or a right of action)… …
7indemnitor — One who indemnifies another; one upon whom there rests an obligation to indemnify or save another from a legal consequence of the conduct of one of the parties to the obligation or of some other person. 27 Am J1st Indem § 2 …
8SHOMERIM — (Heb. שׁוֹמְרִים; bailees ). Biblical Classification The law relating to a bailee (i.e., one who is entrusted with the money or chattels of another) is first given in the Torah (Ex. 22:6–14) in several statements of principle from which have been …
9Assumption reinsurance — is a form of reinsurance whereby the reinsurer is substituted for the ceding insurer and becomes directly liable for policy claims. This ordinarily requires a notice and release from affected policyholders. In the more typical reinsurance… …
10pay — I. v. a. 1. Discharge, settle, liquidate, defray. 2. Compensate, recompense, requite, remunerate, reward, make payment to, satisfy, discharge one s obligation to, indemnify. 3. Punish, take revenge upon, retort upon. 4. Give, render, offer. 5.… …
