Hold Harmless Agreements: Are They Really That Promising?
Hold harmless agreements protect parties from legal liabilities in contracts
May Not Guarantee Protection
Hold harmless agreements may not guarantee protection if vague, overly broad, or subject to coercion.
Two main types of hold harmless agreements exist: unilateral and reciprocal
Examples of hold harmless clauses range from sports club memberships to apartment leases.
Businesses may find value in hold harmless agreements as part of their liability insurance policies, minimizing reputation risks and financial impacts from potential litigation.
See More Stories
Cash Vs Accrual Accounting: What Are The Key Differences?
Compound Annual Growth Rate: All You Need To Know