CRIS Question and answers rated A+ When one party agrees to indemnify the other party for certain liabilities arising out of the performance of the contract. What is this called? - correct answer An indemnity, or hold harmless, agreement
Who is typically the beneficiary of the hold harmless ag...
CRIS - Ch.2 - Risk Transfer Provisions
When one party agrees to indemnify the other party for certain liabilities
arising out of the performance of the contract. What is this called? - correct
answer ✔An indemnity, or hold harmless, agreement
Who is typically the beneficiary of the hold harmless agreement? - correct
answer ✔the upstream party
3 categories of indemnity provisions - correct answer ✔broad form,
intermediate form, and comparative (or limited) form.
How are the three indemnification provisions similar and how are they
different? - correct answer ✔similar: the indemnitor agrees to provide
indemnity for costs that result from its own negligence.
different: to the extent to which the indemnitor is required to provide
indemnification for losses that are the result of the indemnitee's negligence.
Which indemnity provision is described here.
Liability assumed by indemnitor =
- indemnitor's negligence
- indemnitee's contributory negligence
- indemnitee's sole negligence - correct answer ✔Broad Form
Which indemnity provision is described here.
, Liability assumed by indemnitor =
- indemnitor's negligence
- indemnitee's contributory negligence - correct answer ✔Intermediate Form
Which indemnity provision is described here.
Liability assumed by indemnitor =
- indemnitor's negligence - correct answer ✔Comparative (limited) Form
Which indemnity provision is described here.
The obligation to indemnify is not limited by the degree of the indemnitee's
contribution, as long as the indemnitor's negligence was a contributory cause
of the loss. - correct answer ✔Intermediate Form
Most states prohibit or severely limit the use of which indemnity provision? -
correct answer ✔Broad Form
This type of agreement mirrors the obligations imposed by tort law.
Which one? - correct answer ✔Comparative (limited) Form
What is a third-party-over action? - correct answer ✔In most states, by virtue
of the workers compensation statute, an injured worker's recovery against his
or her employer would be limited to workers compensation benefits (i.e.,
medical expenses and statutory lost wage benefits). However, the employee
can sue a non-employer, such as the project owner or the general contractor,
for damages over and above those allowed under the workers compensation
statute. If a hold harmless agreement is in place between the worker's
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