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An indemnity clause should contain which of the following pieces of information 1) duties of both parties 2) a monetary limit 3) insurance levels 4) details of the breach 5) a time limit
Suggested Answer: A
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Indemnity clauses should contain duties of both parties, a monetary limit and a time limit (1 2 and 5). It should also detail what types of costs are covered. These four points are explained on p.61. An indemnity clause doesn't necessarily signal a breach in contract, and levels of insurance are not relevant here.
12 comments · newest first
TA
Tawny
4 months ago
C seems right to me. Breach details are essential for clarity.
LI
Linn
4 months ago
I prefer B. Insurance levels matter a lot in indemnity clauses.
TE
Tegan
4 months ago
I think A is the best choice. Duties and limits are crucial.
BA
Bambi
4 months ago
Just to clarify, indemnity clauses often include breach details.
KA
Karol
4 months ago
Totally agree with A, those are the essentials!
LE
Lenna
4 months ago
Wait, are we sure a time limit is always necessary?
LO
Lou
6 months ago
I think insurance levels are crucial too, so B seems off.
AL
Alisha
6 months ago
Definitely need duties of both parties and a monetary limit!
LO
Lou
7 months ago
I thought the details of the breach were crucial, but I’m uncertain if they need to be included in every indemnity clause.
DE
Denny
7 months ago
I feel like options A and C both make sense because they cover important aspects, but I’m leaning towards A since it mentions the time limit.
JU
Julian
7 months ago
I remember practicing a question like this where we discussed insurance levels, but I can't recall if they were mandatory in the clause.
TR
Trina
7 months ago
I think the indemnity clause should definitely include the duties of both parties, but I'm not sure about the monetary limit.