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kattorney, Attorney
Category: Business Law
Satisfied Customers: 1169
Experience:  16 years experience with a concentration in business, corporate and contracts law
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what exactly is a hold harmless agreement

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what exactly is a hold harmless agreement

Kathie Russell :

In general, a hold harmless agreement is an agreement or contract in which one party agrees to hold the other free from the responsibility for any liability or damage that might arise out of the particular transaction involved.

Kathie Russell :

They vary a bit depending upon the type of transaction that they are being utilized for.

Customer:

this is in regards XXXXX XXXXX trust . this person does not want to be liable for her actions during her being in charge of taking care of debts, ect...

Kathie Russell :

Trusts normally do include a hold harmless agreement. Trustees are indeminfied for their actions, so long as they are using reasonable care, and cannot be held liable for things such as misjudgments. This does not apply, however, to wrongful acts by the trustee. The hold harmless agreement in this case would normally include such language.

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