Hold Harmless Agreement Colorado The Colorado Supreme Court has defined an indemnity agreement as An agreement by one person to hold another person harmless from such loss or damage as may be specified in the agreement Third Party and First Party Claims Indemnity provisions traditionally addressed only claims by third parties third party claims
Blinder Robinson Co the Colorado Supreme Court defined an indemnity agreement as a n agreement by one person to hold another person harmless from such loss or damage as may be specified in the agreement 19 If indemnify and hold harmless are synonymous the term hold harmless is unnecessary in an indemnity agreement Any such covenant promise agreement or combination thereof requiring an indemnity obligor to defend indemnify or hold harmless any public entity from that public entity s own negligence is void as against public policy and wholly unenforceable
Hold Harmless Agreement Colorado
Hold Harmless Agreement Colorado
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A hold harmless agreement HHA is a contract that prevents one party from being liable to the other if there are injuries or damages Contracts are either unilateral meaning the contract protects only one party or reciprocal where both parties waive liability against each other HHAs can be used to protect both individuals and companies The purpose of a hold harmless agreement is to minimize the risk of a potential lawsuit by holding one party harmless In some cases this document will hold both parties harmless You don t need to get this document notarized for it to be valid
Any such covenant promise agreement or combination thereof requiring an indemnity obligor to defend indemnify or hold harmless any public entity from that public entity s own negligence is void as against public policy and wholly unenforceable Justia Free Databases of US Laws Codes Statutes 2021 Colorado Code Title 13 Courts and Court Procedure Article 50 5 Uniform Contribution Among Tortfeasors 13 50 5 102 Right to Contribution Contract or Agreement Provision to Indemnify or Hold Harmless Void Against Public Policy
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What is a Hold Harmless Agreement A Hold Harmless Agreement also known as an indemnity agreement or waiver of liability is a legal contract between two parties in which one party agrees not to hold the other party liable for injuries damages losses or claims that may arise from a specific activity or transaction A Hold Harmless Agreement often starts with a preamble an explanation of who is making the agreement what the agreement covers and a specific explanation for who is being held harmless from what Typically a Hold Harmless Agreement also includes standard contract terms covering Attorney fees in case there is a dispute over the agreement
A hold harmless agreement is a legal contract where one party agrees not to hold the other responsible for certain risks often specified in the agreement Hold harmless agreements typically apply to physical damage or risk Brief Description Sets forth insurance and indemnification requirements for the use of university facilities by non university groups Reason for Policy Mitigate potential property loss and liability issues related to use of University facilities by non university groups also referred to as third parties Policy Profile I Introduction
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Hold Harmless Agreement Colorado - Section 13 50 5 102 Right to contribution contract or agreement provision to indemnify or hold harmless void against public policy 1 Except as otherwise provided in this article where two or more persons become jointly or severally liable in tort for the same injury to person or property or for the same wrongful death there is a right of contribution among them even though judgment has