indemnity: Meaning and Definition of
Pronunciation: (in-dem'ni-tē), [key]
— pl. -ties.
- protection or security against damage or loss.
- compensation for damage or loss sustained.
- something paid by way of such compensation.
- protection, as by insurance, from liabilities or penalties incurred by one's actions.
- legal exemption from penalties attaching to unconstitutional or illegal actions, granted to public officers and other persons.
- indemnity (Thesaurus)