- The promise by one party to a contract or agreement to pay any costs or claims that may result from it. The promise is often extracted when one party is concerned that there might be unknown lawsuits or claims stemming from the performance of the contract.
Business law dictionary. 2015.
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hold harmless — adj: of, relating to, or being an agreement between parties in which one assumes the potential liability for injury that may arise from a situation and thus relieves the other of liability a hold harmless agreement a hold harmless clause compare… … Law dictionary
hold harmless clause — United Kingdom A clause, often included as part of an indemnity provision in the US, under which one contracting party (A) undertakes not to hold another contracting party (B) responsible for ( harmless against ) certain claims and liability that … Law dictionary
hold harmless agreement — An agreement or contract in which one party agrees to hold the other free from the responsibility for any liability or damage that might arise out of the transaction involved. Dictionary from West s Encyclopedia of American Law. 2005. hold… … Law dictionary
Hold Harmless Clause — A statement in a legal contract stating that an individual or organization is not liable for any injuries or damages caused to the individual signing the contract. An individual may be asked to sign a hold harmless agreement when undertaking an… … Investment dictionary
hold harmless agreement — A contractual arrangement whereby one party assumes the liability inherent in a situation, thereby relieving the other party of responsibility. Such agreements are typically found in leases, and easements. Agreement or contract in which one party … Black's law dictionary
hold-harmless agreement — A contract under which the liability of one party for damages is assumed by another. American Banker Glossary … Financial and business terms
Medicare Hold Harmless Provision — A legal statement prohibiting an increase to Medicare B premiums for the vast majority of American citizens. The Medicare hold harmless provision ensures that Medicare B premiums can not rise more than the previous year s cost of living increase… … Investment dictionary
harmless — harm·less adj 1: free from harm, liability, or loss often used in the phrase to hold harmless see also hold harmless 2: lacking capacity or intent to injure harm·less·ly adv harm·less·ness n … Law dictionary
harmless — harmlessly, adv. harmlessness, n. /hahrm lis/, adj. 1. without the power or desire to do harm; innocuous: He looks mean but he s harmless; a harmless Halloween prank. 2. without injury; unhurt; unharmed. 3. hold harmless, Law. to relieve from… … Universalium
hold — 1. v. & n. v. (past and past part. held) 1 tr. a keep fast; grasp (esp. in the hands or arms). b (also refl.) keep or sustain (a thing, oneself, one s head, etc.) in a particular position (hold it to the light; held himself erect). c grasp so as… … Useful english dictionary