Explore the concept of an implied warranty in legal terms. Understand what an implied warranty is, its implications, and how it protects consumers without being explicitly stated.
Learn about the attestation clause, a crucial section requiring insurance company officers to sign a contract for its completion.
Understand the Errors and Omissions Clause in reinsurance, ensuring that minor errors or omissions do not invalidate the reinsurer's liability.
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 term 'Policy' in general insurance terms, referring to the contract that begins insurance coverage and any attached forms.
Learn about clauses in general insurance terms, which address specific issues within a contract. Discover how these provisions impact your insurance policies.
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 the contract in general insurance terms, which is the agreement between the insured and the insurer, outlining the trade of consideration for benefits and services.
Understand what a hold harmless agreement is in liability insurance. Learn how one party can assume inherent risks, removing potential liability from another party.
Learn about the term 'Offeror' in the context of general insurance terms. Discover what an offeror is and their role in the insurance process.
Understanding the concept of Quid pro quo in insurance, where items of value are traded to form a valid contract.
Discover the definition and importance of the statute of frauds in contract law. Learn which contracts must be written to be legally enforceable.
Learn about breach of contract, a common legal issue where one party fails to fulfill their contractual obligations, and its implications in law and insurance.
Learn about voidable policies in general insurance, a type of policy that can be voided by either party involved in the contract. Explore how it impacts both insurers and policyholders.
