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FrançaisTo compensate for actual loss sustained. Many insurances policies and all bonds promise to indemnify the insured. Under such a contract, there can be no recovery until the insured had actually suffered a loss, at which time he or she…
Read MoreIndirect tax
A tax that is levied on expenditure such as a sales tax imposed at the retail level. See direct tax; excise tax; sales tax; VAT.
Read MoreIndividual franchise contract
It is a collaboration contract between two legally independent companies: Franchisor and Franchisee. By virtue of this contract, the Franchisor grants the Franchisee the right to exclusive distribution of its products (or services) in uniformly equipped and fitted establishments, together…
Read MoreInducement
When steamship lines publish in their schedules the name of a port and the words “by inducement” in parentheses, this means the vessel will call at the port if there is a sufficient amount of profitable cargo available and booked.
Read MoreIndustrial design
A scheme, drawing, plan, or other depiction of a new model, shape or configuration that is decorative or ornamental. In most of the countries, the rights to a design can be registered as Intellectual Property Rights (IPR) allowing the registrant…
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