Distribution Agreements · glossary
A promise to make good another party’s loss from a named cause. Cressby pays outsiders’ claims that a Defect caused injury or property damage, up to €5,000,000 a claim. That sum sits outside the cap and matches Cressby’s insurance. Agreement, clause 16.1 · Chapter 8 · see Cap, Defect
Explained in Chapter 8, Warranties, Limitation of Liability and Indemnities, of Distribution Agreements.
An indemnity is a promise to make good another party’s loss from a named cause. Here the cause is a third-party claim, made by an outsider such as a café or a hotel guest. Such a claim lands on Tullavane first, because it rented out the machine. As importer, it also carries the injury risk that Chapter 7 describes.Read Chapter 8, Warranties, Limitation of Liability and Indemnities →
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