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In order to make a determination of this issue, an examination of the contractual arrangement between the indemnitor and indemnitee is required.
40) Characterizing reasonableness and good-faith requirements as proxies for fraud and collusion also prevents claimants from circumventing the third prong of Coblentz by using the doctrine of "vouching in," which binds--albeit only in the absence of fraud or collusion --an indemnitor to a judgment rendered against its indemnitee as long as the indemnitor was given notice of the action and an opportunity to appear.
Common defenses raised by indemnitors are the surety's failure to obtain the indemnitor's signature, and the lack of legal consideration from the surety to the indemnitor.
46) This solution lacks appeal; its utility depends on (a) trusting an unknown person who formerly worked with an unfamiliar third party and (b) the financial wherewithal of the indemnitor.
The indemnitor or party obligated to cover the environmental liability can purchase a bond or other mechanism to protect the indemnitee in the event of a default by the indemnitor.
For example, as Joseph suggests, the Committee Note could provide that actions such as "notifying an insurance company or indemnitor of potential liability" or "preparing an incident report or other steps taken in the ordinary course of business in anticipation of litigation" are sufficient to activate the preservation obligation.
Specifically, reference to "surety, indemnitor, and insurer" is removed as these representatives are not applicable in family law matters.
The party who is able to transfer its financial consequences of liability to the indemnitor is commonly referred to as the "indemnitee.
relationship with one of the parties, such as an indemnitor or a
Thus, the mere existence of the insurance policy does not guarantee that funds will be available to respond to all responsibilities of the indemnitor captured in the hold harmless agreement.
The IRS disregarded the indemnity agreement because there was no business purpose for the indemnity, and as a consequence the agreement did not have the features that would be common to protect the lender and restrict the indemnitor.
and as indemnitor, surety, or contractor in the business of entering