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The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a " guarantee " is an obligation of one party (the guarantor ) to another party to perform the promise of a relevant other party if that other party defaults .
Escrow can also refer to a shorter-term account used to facilitate the closing of a real estate transaction. In this type of escrow, the escrow company holds all documents and money related to closing the transaction, rather than having the buyer and the seller deal directly with each other.
The hold-harmless language ended up in the final bill, to the apparent anguish of Individual A and Eberhart. According to another text change during these negotiations, this issue seemed to be a ...
Technically speaking, the "to have" (Latin: habendum) is separate from the "to hold" (Latin: tenendum), such that the tenendum clause is sometimes considered a separate concept. Historically, the habendum clause dealt with "the quantity of interest or estate which the grantee was to have in the property granted", while the tenendum clause ...
Harmlessness or harmless may also refer to: Legal. Hold harmless, legal term in the contract law concept of indemnity; Harmless error, ...
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.