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Does anyone know the meaning of "all finally settled claims" in point III? > III. Blanket indemnities. I'm not wealthy, and my insurer won't cover claims that
by gralx 4y ago
Does anyone know the meaning of "all finally settled claims" in point III?
> III. Blanket indemnities. I'm not wealthy, and my insurer won't cover claims that you settle without their consent. Asking me to indemnify you against "all claims" exposes me to the risk of bankruptcy – and still doesn't protect you. I change this to "all finally settled claims."
A claim not finally settled leaves nothing to indemnify against. I'm missing something here.
Edit: Maybe "I indemnify Publisher against all claims which at the time of contract signing are finally settled"?
- dalke 4y ago"finally settled" appears to be a legal phrase. I'll quote from https://www.lawinsider.com/dictionary/finally-settled https://www.lawinsider.com/dictionary/finally-settled : > finally settled means that all parties to the litigation shall have entered into a settlement agreement, that all relevant courts shall have approved the settlement, and that the terms of the settlement shall no longer be subject to appeal, or that such litigation shall have been dismissed with prejudice by a court of competent jurisdiction and such dismissal shall not be subject to appeal.
- gralx 4y agoRight! Didn't think to look it up as a term of art. That means the missing information is temporal: the subsitution in point III narrows indemnity to only those claims which satisfy finally settled at the moment the contract binds.