INDEMNITY
Undertaking given to compensate for damages or loss. Legally speaking, it may also pertains to an exemption from contingent liability. Its concept is based on a contractual agreement between two parties where one party agrees to settle the possible losses or damages caused by the other party. Insurance contract is an example of indemnity, whereas the insurer agrees to compensate the insured for any losses or damages, in exchange for premiums paid by the insured to the insurer.
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Robert C. Merton
American economist who won the 1997 Nobel Memorial prize in Economic Sciences, along with Myron Scholes, for developing the Black-Sholes model, whi ...
Buy Stops Above
Recommendation to purchase a given security once a security’s price surpasses a particular resistance level by putting a buy stop order at th ...
Admitted Company
An insurance company admitted and allowed by an another state to transact insurance business despite having a domiciled status on an another state. ...
Black Box Model
Computer program, process, or system processing the information entered by the user using pre-programmed logic in order to produce the user’s ...
Form 3903
A form issued by the IRS and used by taxpayers to deduct moving expenses related to taking a new job.
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