Warning
Info
Warning
Info
Simple English definitions for legal terms
hold-harmless agreement
Read a random definition: R AND D
A quick definition of hold-harmless agreement:
A hold-harmless agreement is a contract where one person promises to protect another person from any harm or loss. This means that if something bad happens, the person who made the promise will take responsibility and make things right. It's like having a superhero who will always save you from danger!
A more thorough explanation:
A hold-harmless agreement is a contract between two parties where one party agrees to protect the other party from any losses, damages, or liabilities that may arise from a particular activity or transaction. This agreement is also known as a save-harmless agreement.
For example, if a construction company hires a subcontractor to work on a project, the subcontractor may be required to sign a hold-harmless agreement. This agreement would state that the subcontractor is responsible for any damages or injuries that may occur during their work, and they agree to indemnify (compensate) the construction company for any losses that may result.
Another example is when a person rents a car. The rental agreement may include a hold-harmless clause that states the renter is responsible for any damages or accidents that occur while they are driving the car. This means that the rental company is protected from any liability that may arise from the renter's actions.
In summary, a hold-harmless agreement is a legal contract that protects one party from any losses or damages that may occur during a particular activity or transaction. It is important to read and understand the terms of the agreement before signing it.