1.In negotiating ramp space and hangarage for your aircraft, the owner of one small airport asks you to commit to a lease that contains a "waiver of liability" and a term to "indemnify and hold harmless." "This is to protect all the users of the airport" explains the owner/landlord.
When negotiation ramp and hangarage space it is very critical to understand all documentation that is to be signed. When going through the documentation you typically will see a "waiver of liability". In the waiver of liability owner/landlord is asking to "indemnify and hold harmless". Which basically says that the tenant/occupier assumes the risk and will not sue for any damages that could transpire. The tenant shall pay for all damages.
When understanding the contract one should understand what they are signing. The Legal Dictionary states (2005), "liability- one of the most significant words in the field of law, liability means legal responsibility for one's acts or omissions.
Failure of a person or entity to meet that responsibility leaves him/her/it open to a lawsuit for any resulting damages or a court order to perform (as in a breach of contract or violation of statute). In order to win a lawsuit the suing party (plaintiff) must prove the legal liability of the defendant if the plaintiff's allegations are shown to be true. This requires evidence of the duty to act, the failure to fulfill that duty, and the connection (proximate cause) of that failure to some injury or harm to the plaintiff." Negligence liability, generally one individual is seeking redress for a legally recognizable wrong done to him by one or more other persons. The concept of negligence involves primarily four elements: Ones duty to others, whether that duty was breached, whether that breach of legally recognizable duty was the legal...