An indemnification clause in a contract protects parties from liability for certain types of loss or damage, but its enforceability depends on the specific case and laws. Clarity is necessary for a binding clause, and illegal matters cannot be indemnified. They are commonly used in business contracts but must be reviewed carefully. An indemnification clause […]
Contracts have two types of provisions: express terms and implied terms. Implied terms are not specifically written but are assumed to be included. They offer legal protection against fraud and misrepresentation. Laws recognizing unwritten terms vary between regions, but many countries have standardized them in sales contracts. Implied terms can be voided if specifically stated […]
