An indemnity is an obligation on the part of a principal to reimburse the agent against any losses incurred when the latter is acting on behalf of the former.

Name: An indemnity is an obligation on the part of a principal to reimburse the agent against any losses incurred when the latter is acting on behalf of the former.
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

An indemnity is indeed an obligation on the part of a principal to reimburse the agent against any losses incurred when the latter is acting on behalf of the former.

An Indemnity Is an Obligation on the Part of a Principal