Compensation vs Indemnify - What's the difference?
compensation | indemnify |
The act or principle of compensating.
That which constitutes, or is regarded as, an equivalent; that which makes good the lack or variation of something else; that which compensates for loss or privation; amends; remuneration; recompense.
* Hallam
* Burke
The extinction of debts of which two persons are reciprocally debtors by the credits of which they are reciprocally creditors; the payment of a debt by a credit of equal amount; a set-off.
A recompense or reward for some loss or service.
An equivalent stipulated for in contracts for the sale of real estate, in which it is customary to provide that errors in description, etc., shall not avoid, but shall be the subject of compensation.
The relationship between air temperature outside a building and a calculated target temperature for provision of air or water to contained rooms or spaces for the purpose of efficient heating. In building control systems the compensation curve is defined to a compensator for this purpose.
To secure against loss or damage; to insure.
* 1670 , , letter to Lord Arlington, in The Works of Sir William Temple ,
(senseid)(chiefly, legal) To compensate or reimburse someone for some expense or injury
* 1906 , Civil Code of the State of California [http://books.google.com/books?id=Vds3AAAAIAAJ], page 405:
(obsolete, rare) to hurt, to harm
*1583 , Thomas Stocker's translation of A tragicall historie of the troubles and ciuile warres of the lowe Countries , i. 63a
*:He... did not belieue]] that his [[Majesty, Maiestie by this occasion coulde any way be endemnified .
*1593 , Thomas Lodge, Life & Death of William Long Beard , E ij
*:What harme the Rhodians haue]] [[done, doone thee, that thou so much indemnifiest them?
As a noun compensation
is the act or principle of compensating.As a verb indemnify is
to secure against loss or damage; to insure or indemnify can be (obsolete|rare) to hurt, to harm.compensation
English
(wikipedia compensation)Noun
(en noun)- (Emerson)
- The parliament which dissolved the monastic foundations vouchsafed not a word toward securing the slightest compensation to the dispossessed owners.
- No pecuniary compensation can possibly reward them.
Synonyms
* (act of compensating) restitution * (recompense or reward) restitutionDerived terms
* overcompensationindemnify
English
Etymology 1
From (forming verbs'')''Oxford English Dictionary , 1st ed. "indemnify, v.1". Oxford University Press (Oxford), 1900.Verb
(en-verb)page 101:
- The states must at last engage to the merchants here that they will indemnify them from all that shall fall out.
- The lender of a thing for use must indemnify the borrower for damage caused by defects or vices in it, which he knew at the time of lending, and concealed from the borrower.
