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:

CIO

Chief Information Officer, a senior executive responsible for managing and implementing information and computer technologies within an organization.

Petya

A type of ransomware attack that encrypts the master boot records of infected Windows computers, demanding payment to regain access to the system.

RobbinHood

A type of ransomware attack that targets organizations to encrypt their files and demands ransom for decryption keys.

SamSam

A type of ransomware utilized in cyber attacks to encrypt data on a victim's computer, demanding ransom payments for decryption keys.