0
What else can I help you with?
What is the name of a contract that is drafted by an insurer and receives no input or alteration from the insured is considered?
A contract that is drafted by an insurer without any input or alteration from the insured is considered a "contract of adhesion." This type of contract typically features standard terms and conditions that the insured must accept as-is, with limited negotiation power. Because of this one-sided nature, courts often scrutinize such contracts for fairness and clarity.
Who receives the benefits or money from a life insurance pplicy upon the death of the insured?
Upon the death of the insured, the person or persons selected as the receiver of benefits in the contract receives the benefits or money from a life insurance policy.
A new industry that is protected is termed as what?
The insured receives a contract, called the insurance policy, which details, Wren's inclusion of a site for 'the Insurance Office' in his new plan for London in 1667".
Why is an insurance contract a unilateral contract?
a unilateral contract is one in which one party 's promise is exchanged with other party's act. insurance contract is unilateral because one party ie the insured pays premium regularly and the insured ie the other party promises to compensate for any loss caused to the insured. here the act of paying premium by insured is exchanged with the promise of insurer.
8 Which is the document in Insurance which can be called the Documentary Evidence of Contract between the Insurance Company and the Insured?
That should be your declarations page. It is a binding contract between the insured (you) and the company.
Who are the parties that enter a auto insurance policy contract?
The Insurer and the Insured are parties to an insurance contract.
Who is the principal in a life insurance contract?
The Insured of the policy is obviously the Principal in a life insurance contract.
Does a motorcycle stay insured in the winter?
the normal insurance contract is 12 months, so yes it would be insured
What is mean by consideration and how the third party is consirder and its examples?
Consideration refers to something of value exchanged between parties in a contract, necessary for its enforceability. In contract law, a third party can be considered if they stand to benefit from the agreement, even if they are not directly involved in it. For example, in a life insurance policy, the insured pays premiums to the insurer, but the beneficiary (a third party) receives the payout upon the insured's death. Another example is a contract for the sale of goods where a third-party lender may have an interest in the transaction.
Is your car insured in a car park?
it will tell you in your contract between you and the insurance company
A written contract between an insured person and an insurance company?
It is called in insurance policy.
What is the term for the written contract between an insured person and an insurance company?
Insurance policy
