What are the limitations of indemnification clauses?
An example of an AI chatbot conversation about the limitations of indemnification clauses.
What are the limitations of indemnification clauses?
Indemnification clauses can limit liability in contracts, but they often have specific limitations. For example, they may not cover gross negligence or willful misconduct.
Can you give me an example of a limitation?
Sure! A common limitation is that indemnification may not apply if the indemnified party was at fault or contributed to the loss.
Are there any legal standards that govern these limitations?
Yes, legal standards can vary by jurisdiction, but many courts will enforce limitations that are clear and reasonable.
What should I consider when drafting an indemnification clause?
Consider the scope of indemnity, the types of claims covered, and any exclusions. It's also wise to consult legal counsel.
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