Liability vs Indemnification - What's the difference?
liability | indemnification |
the condition of being liable.
an obligation, debt or responsibility owed to someone.
* 1901 , , (w, The Monkey's Paw)
a handicap that holds one back.
the likelihood of something happening.
The act or process of indemnifying, preserving, or securing against loss, damage, or penalty.
A reimbursement of loss, damage, or penalty.
The state of being indemnified.
That which indemnifies.
(legal) indemnity
As nouns the difference between liability and indemnification
is that liability is the condition of being liable while indemnification is the act or process of indemnifying, preserving, or securing against loss, damage, or penalty.liability
English
Noun
(wikipedia liability) (liabilities)- "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."