Learn about rescission, which involves the early termination of an insurance policy due to material misrepresentation and the act of contract repudiation in various conditions.
Learn about the capacity of parties in general insurance, which addresses the legal competency of each party to enter into an insurance contract.
Explore the legal concept of imputed acts where actions performed by an agent are considered those of the principal. Learn how imputed liability works in various legal scenarios.
Learn about the Parol Evidence Rule, a critical legal principle that ensures contracts cannot be altered by verbal agreements. Discover its importance in upholding the integrity of written contracts.
Learn about the role and rights of a third party beneficiary in insurance contracts. Understand how individuals not expressly named in a contract can still have legal rights.
Learn about the concept of consideration in general insurance, where the premium paid by the insured and the future payout of claims by the insurance company form the basis of the contract.
Learn about 'Cut off' in reinsurance, a key stipulation in contracts, outlining that reinsurers are not liable for losses from events post-termination.
Explore the concept of quasi-contract, a legal mechanism used when no written contract exists, yet the situation is treated as if a contract is present. Learn how this concept applies and its implications in contractual law.
Explore the concept of 'Offer' in insurance contracts, its significance in life and property insurance, and how it forms an essential part of the agreement between parties.
Learn what it means when an insurance policy is void and no longer enforceable. Understand the legal implications and scenarios where this might occur.
