To understand this term you need to understand the meaning of both of the key words: Doctrine and indemnity.
This comes from the Latin word doctrina, and is the codification of beliefs, or some teachings. This can be more easily understood if you apply it to religion, where it is easy to see that a belief system is built up on a doctrine of things that have been taught.
Doctrine can also apply to the legal world, and in this case makes reference to a point of law that has been developed over many years and so becomes a belief. Examples of this are the doctrine of fair use; or the doctrine of self defense. These are ideas that have been finely tuned over the years and so now seem to be set in stone.
Indemnity is a sum of money that is paid as compensation to another party. The most obvious compensation that springs to mind in our ambulance chasing society is the compensation that is paid for an injury or damage that has been caused by the negligence of somebody else, but there are other types of compensation that are also indemnity.
This means that indemnity can cover things such as replacing faulty goods, or repairing something that is faulty. It can mean refunding items that were bought for cash, and it can mean reinstatement.
Legally, indemnity has many more different meanings, more of which you can learn about on this site: http://en.wikipedia.org/wiki/Indemnity, but as a general rule it means compensating someone for something.
Doctrine of Indemnity, therefore, is the rules that govern indemnity and those that have been developed and honed over the years so that they cover all eventualities. It also means that they are set in statute and so are clearly defined.
- Doctrine
This comes from the Latin word doctrina, and is the codification of beliefs, or some teachings. This can be more easily understood if you apply it to religion, where it is easy to see that a belief system is built up on a doctrine of things that have been taught.
Doctrine can also apply to the legal world, and in this case makes reference to a point of law that has been developed over many years and so becomes a belief. Examples of this are the doctrine of fair use; or the doctrine of self defense. These are ideas that have been finely tuned over the years and so now seem to be set in stone.
- Indemnity
Indemnity is a sum of money that is paid as compensation to another party. The most obvious compensation that springs to mind in our ambulance chasing society is the compensation that is paid for an injury or damage that has been caused by the negligence of somebody else, but there are other types of compensation that are also indemnity.
This means that indemnity can cover things such as replacing faulty goods, or repairing something that is faulty. It can mean refunding items that were bought for cash, and it can mean reinstatement.
Legally, indemnity has many more different meanings, more of which you can learn about on this site: http://en.wikipedia.org/wiki/Indemnity, but as a general rule it means compensating someone for something.
- Doctrine of Indemnity
Doctrine of Indemnity, therefore, is the rules that govern indemnity and those that have been developed and honed over the years so that they cover all eventualities. It also means that they are set in statute and so are clearly defined.
