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Professional liability insurance. Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full ...
Warranty claims historically required privity between the injured party and the manufacturer or seller; in plain English, they must be dealing directly with one another. As noted above, this requirement was demolished in the landmark Henningsen case. Breach of warranty-based product liability claims usually focus on one of three types:
Performance bond. A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as margin.
The decennial warranty is a legal liability assumed by builders for all defects that compromise the integrity of their structures or that cause them to become unsuited for their intended purposes. This responsibility is mandated by Article 1792 et seq. of the Civil Code. It is imposed on builders for ten years from the acceptance date of the ...
t. e. In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless".
Spearin, 248 U.S. 132 (1918), also referred to as the Spearin doctrine, is a 1918 United States Supreme Court decision. It remains one of the landmark construction law cases. [ 1 ] The owner impliedly warrants the information, plans and specifications which an owner provides to a general contractor. The contractor will not be liable to the ...
Construction of the Pentagon, 1942.. The Miller Act (ch. 642, Sec. 1-3, 49 stat. 793,794, codified as amended in Title 40 of the United States Code) [1] requires prime contractors on some government construction contracts to post bonds guaranteeing both the performance of their contractual duties and the payment of their subcontractors and material suppliers.
This is an example of what a local official says is a scam letter trying to convince people to buy a home warranty. Personal information from the homeowner, which was included in the letter, has ...