Damages and indemnity both deal with compensating for losses, but they serve different purposes. Damages are awarded by a court to compensate for harm caused by another party's actions. Indemnity, however, is a contractual agreement where one party agrees to cover specified losses or liabilities in advance. While damages are reactive, indemnity is proactive, offering a way to manage and allocate risk before any issues arise. https://treelife.in/legal/understanding-damages-vs-indemnity-explained-... moreDamages and indemnity both deal with compensating for losses, but they serve different purposes. Damages are awarded by a court to compensate for harm caused by another party's actions. Indemnity, however, is a contractual agreement where one party agrees to cover specified losses or liabilities in advance. While damages are reactive, indemnity is proactive, offering a way to manage and allocate risk before any issues arise. https://treelife.in/legal/understanding-damages-vs-indemnity-explained-in-detail/
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