INDEMNITIES – A BEAST OF A DIFFERENT KIND

Participating in various activities requires participants to indemnify and disclaim the service provider from liability. Such indemnities constitute a contract subject to our laws and legal principles. The operative clause of any contract is pivotal and both parties must have an understanding of the conditions, limitations and consequences. The principle of pacta sunt servanda (agreements must be kept) embodies an elementary and universally agreed principle fundamental to all legal systems and means no more than that agreements which are legally binding must