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What Example to indicate difference between legal capacity in a contract and legal capacity in an insurance contract?
Wiki User
∙ 6y ago
Insurance contracts in all countries are subject to the same basic law that governs all types of contracts but also to some legal principles that have been developed to handle the legal problems associated with insurance. Beyond the necessary contractual conditions, certain elements are peculiar to the insurance policy.
Generally an insurance policy is unilateral and only the insurer is obligated to act. It is also a conditional aleatory contract.
As a contract of "utmost good faith" (uberrimae fidei) a certain degree of honesty is presumed from both parties. This principle imposes a higher standard of honesty-on the two parties than is usually expected in an ordinary contract.
To avoid a contract a "warranty" (a statement contained in the contract and requires that a particular condition exists) must be false, or a "misrepresentation" (a statement made by the insured to the insurer on which the latter relies to price the contract) must be false and materially important. Concealment of these factors will be considered to be made with intent to deceive . The insured has an obligation to inform the insurer about facts that may be materially important.
Wiki User
∙ 14y ago
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The term 'capacity' in a contract is used to?
indicate the legal power to give consent
What does the boat capacity plate indicate?
the safe load carrying capacity
Does a 17 year old driver have to give a statement to the insurance company if he was not at fault in an accident?
Yes, It's part of your insurance contract that you signed when you applied for coverage. All insurance contract terms require that a statement be given by any and all parties regardless of age so that the Insurance Company can determine who is at fault. Refusal of a statement can cause you to be found liable by default of your insurance contract. It makes you sound guilty as you seem to have something to hide. It's usually the at fault party who is is afraid or refuses to give a statement. In these circumstances you will generally be determined at fault and will be entered in your insurance record and you insurer will have to pay the other party for all damages up to your policy limit. Refusal to honor the terms of your contract by not giving an accident statement can also cause your insurer to cancel your policy and you may have difficulty finding another insurance company in the future as your driving record will indicate that you are uncooperative and you have violated the terms your previous insurance contract.
Indicate why you would like to work in a health insurance call center?
indicate why you would like to work in a health insurance call center
Where does a capacity plate indicate?
Safe load limit
BE-5 what does a capacity plate indicate?
safe load
Does difference indicate subtraction?
yes
Does the incoterms 2000 include the insurance?
The only two incoterms®rules that indicate the goods must be insured are CIF and CIP. Insurance is taken out by the seller in the buyer's name and the insurance must be for minimum 110% of the shipment value. For all the other incoterms® rules it's unclear if the seller or buyer is arranging insurance.This can lead to inadequate or no insurance and must be clearly written in the contract.
State the electrical unit used to indicate battery capacity?
The electrical unit used to indicate the capacity of a battery is the Amp-hour. This is a theroetical statement of how many amps the battery is capable of producing in one hour.
I have insurance on a lg6500 series phone that just broke and they are trying to give me a lg5500 is this one lower quality and how so thanks ?
You need to look at your insurance contract to see what kind of replacement it covers. Also note just because the lg5500 is a lower number does not necessarily indicate that it is older or less than your 6500.
What indicates chronological order?
A given sequence has the capacity to indicate chronological order
What do increased residual volume and decreased vital capacity indicate?
The increased residual volume and decreased vital capacity indicates difficulty in breathing. There are many conditions that can make the breathing capacity to reduce.
