Under an Indemnity Contract, One Person Pays Another Consideration in Return

question 23

True/False

Under an indemnity contract, one person pays another consideration in return for a promise to pay a specified sum of money in the event that a specified loss is suffered.

---

Definitions:

Human Resource Planning

The ongoing process of systematically planning ahead to optimize and meet the future human resource needs of an organization, in alignment with its strategic goals.

Recruitment

Recruitment is the process of identifying, attracting, interviewing, selecting, and hiring employees to fill job vacancies within an organization.

Selection

The process of choosing individuals to hire from a pool of qualified job applicants.

Human Capital

The collective skills, knowledge, and abilities of an organization's workforce, which can be leveraged to achieve its goals.