0
This is when two parties in a contract cannot sue each other over the same event. They indemnify each other.
What else can I help you with?
What does cross-liability interest clauses in insurance contract mean?
This is when two parties in a contract cannot sue each other over the same event. They indemnify each other.
How does cross liability work?
Cross liability works as a severability of interest. These are clauses in commercial insurance contracts which means the policy applies separately to each insured party.
What is contract liability insurance and indemnity insurance?
In many cases when you enter into a contract, whether it is a contract for work, a lease agreement or any other type of contract, there will be clauses covering insurance and indemnification, which is a fancy word for covering someone else's financial loss. Liability insurance provides money to cover losses to others due to negligence on the part of the insured. In this case, the insurance company is indemnifying the insured. If there is an indemnification clause in the contract then the contractor must indemnify the contractee as specified. This is most usually done by adding the contractee as either an additional insured (in the case of liability insurance) or as a loss payee (in the case of property insurance) to their existing policy. If the person entering the contract does not have insurance or does not have sufficient insurance, then those policies can usually be purchased. However, having the insurance or having the contractee named on your policy does not alleviate the indemnification.
What are clauses in the insurance contract that specify the losses that are not covered by the insurance?
There are 2 categories of these: exclusions and exceptions.
What are exclusion clauses?
Terms under contracts that seek to limit the liability of a party under the contract
Can the contract be made in such a way that the promoter is not personally liable on it?
Yes, a contract can be structured to limit or eliminate personal liability for the promoter. This can be achieved through specific clauses in the contract that outline the extent of the promoter's liability or by forming a separate legal entity, such as a corporation, to enter into the contract on behalf of the promoter.
What clauses should survive termination of a contract?
Clauses that typically survive termination of a contract include those related to confidentiality, indemnification, and dispute resolution. These clauses are meant to continue to be in effect even after the main terms of the contract have ended.
What are some examples of forms of relief provided by contract clauses or from the basic rights of government under commercial contract law?
Forms of relief provided by contract clauses include specific performance, which compels a party to fulfill their contractual obligations, and damages, which provide monetary compensation for losses incurred due to breach. Additionally, clauses like force majeure can relieve parties from liability when unforeseen events prevent contract fulfillment. Under commercial contract law, the government may also grant remedies such as rescission, allowing parties to void a contract, or reformation, which modifies the contract to reflect the true intentions of the parties. These mechanisms ensure that parties have recourse when contracts are not honored.
Is a contract valid after termination of that contract?
No, but the exclusion clauses under it may still be
Is there someone you can call to report your auto insurance company for making you pay what they called betterment charges outside your collision deductible?
If you disagree with the betterment clauses in your Insurance Contract or think they are not legal you could take the matter to your States department of Insurance or equivalent.
What is Reinsurance clauses LGT 397?
Ah, reinsurance clauses like LGT 397 are like happy little safety nets in the world of insurance. They help insurance companies manage risks by transferring a portion of their liabilities to other insurers. Just like adding a touch of blue to a sky to make it more vibrant, reinsurance clauses ensure that everyone is taken care of when unexpected events happen.
How can they repo your car when you have insurance and have not been late on payments?
what else are you in 'default" of in the contract?? Did the car get impounded?? Is it in possession of a 3rd party? Is it being used in criminal activity? I dont know.. There aare statements on the back of your contract called "acceleration clauses". Insurance is probably one of those items. kayton www.learntorepo.com
