Legal Definitions - indemnis

Indemnis

Indemnis is a historical legal term that describes a state of being free from loss, harm, or damage. It refers to a situation where a person or entity is protected against suffering any detrimental consequences, particularly financial ones, that might otherwise occur.

Here are a few examples illustrating the concept of being indemnis:

• Construction Project Liability: Imagine a homeowner hiring a construction company to build an addition. The contract might include a clause stating that the construction company will hold the homeowner indemnis from any claims or damages arising from the company's negligence during the project. This means if a construction worker accidentally damages a neighbor's fence, the construction company would be responsible for covering the repair costs, ensuring the homeowner remains indemnis – free from that particular financial loss or liability.
• Trustee Protection: Consider a person appointed as a trustee to manage a family trust. The trust document might specify that the trustee shall be held indemnis for any honest errors in judgment made while managing the trust, provided they acted in good faith and without gross negligence. In this scenario, if the trustee makes a reasonable investment decision that, due to unforeseen market changes, results in a minor loss, they would be protected from personal financial responsibility for that loss, thus remaining indemnis.
• Corporate Officer Indemnification: A corporation's bylaws often contain provisions stating that its officers will be held indemnis by the company for legal expenses and judgments incurred while performing their official duties, as long as they acted lawfully and in the best interest of the corporation. For instance, if a corporate officer is sued for a business decision made on behalf of the company, and they meet the specified criteria, the corporation would cover their legal fees and any resulting financial penalties, ensuring the officer is indemnis from personal financial burden.