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Who are the parties that enter a auto insurance policy contract?
Wiki User
∙ 16y ago
The Insurer and the Insured are parties to an insurance contract.
Wiki User
∙ 16y ago
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Can a minor enter into a contract for car insurance in South Carolina?
Usually the answer to this question is no. Rarely an insurance company will let a 17 year old take out a policy on their own if they legally own the vehicle as well. Because an insurance policy is a legal contract that usually means that you must be 18 in order to sign the policy application.
Intention element of a contract of sale?
the intention by both parties to the contract must have the intention to enter into a contract.
Is it necessary to disclose all the life insurance policy with every company?
I assume you are talking about disclosing your current life insurance policies to a company that you are applying to for a new policy. You should be absolutely as truthfull as you can in every aspect of any insurance applications that you fill out. The application and policy are a legally binding contract. If it is deemed that you lied on an application on any fact that is determined to be material to the issuance of the policy the insurance can and will find the contract null and void. They depend on the facts that you give them to decide on the policy issued and rates given. As in any legal contract if one party provides false or misleading information to get the other party to enter into a contract then the other party cannot be held to the terms of the contract. You don't want to pay for a policy that will not pay off when you need it.
Which boat insurance companies will insure people under the age of 18?
Because laws and companies vary by state you should just simply call and ask your agent. Note that one must be at least 18 to enter into a contract. An insurance policy is a contract.
What is the minimum age required to obtain a car insurance policy in your name in the state of Mississippi?
18 is the age at which you can enter into a legal contract. Before the age of 18 you can still purchase auto insurance but your gaurdian or a parent will have to countersign the insurance application.
Can a 17 year old get insurance on parents car without parent being on insuracne policy?
A 17 year old can not enter into a legally binding contract. Therefore a parent or guardian must countersign the Insurance Application.
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.
How liable is a parent if a child is on their own insurance ploicy and they are 17?
Full liability, as the child is still a minor and the parents are responsible; on the other hand, at the age of 17, a teenager cannot legally enter in a contract, so the insurance policy is void and the insurance becomes just as liable.
Can a 17 years old buy a life policy?
A 17 year old is not able to legally contract. They will have to be 18 to enter into a contract.
At what age can one enter into a life insurance contract?
In general, the age of majority in your state will dictate when you are of legal age to buy a life insurance policy on your own. Again in general, you would need to be the same age to sell it.
What are the grounds for breach of contract in the Philippines?
Generally parties are bound by a contract in the Philippines unless the contract is rescinded. If two entities enter a contract and both agree that they are no longer interested in pursuing the endeavor, they can agree to breach the contract.
What is ordinary contract?
At its essence, an ordinary contract is a legal agreement between parties that forms obligations on both sides. Such contracts can be binding on the parties in both written and oral forms, though it is much easier to prove the terms of a written contract in the event things go awry. The main criteria for an ordinary contract is that both parties have the capacity to enter a legal agreement. A contract with a child or an incompetent adult would not be enforceable.
