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The indemnity agreement was executed by two major oil and gas companies with equal bargaining power after negotiations that specifically contemplated the adoption of an agreement releasing the appellant from liability. Both parties were fully aware of the risk-shifting nature of the agreement and limited it in scope to liability arising from a specific series of transactions that had already occurred.
May 02, 2005 at 12:00 AM
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The original version of this story was published on Texas Lawyer
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