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Indemnification
The act of compensating for loss or damage, often seen in contracts where one party agrees to cover the losses of another.
Damages
Monetary compensation imposed by law for loss or harm stemming from breach of contract, negligence, or other wrongful act.
Reimbursement
The act of compensating someone for an expense or loss incurred.
Apparent Authority
Authority that is only apparent, not real. An agent’s apparent authority arises when the principal causes a third party to believe that the agent has authority, even though she or he does not.
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