Understand the term 'Settlement' used in insurance and legal contexts. Learn how settlements function as mutually agreed-upon agreements or payments between involved parties, and the potential requirement for court approval.
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 nominal damages in legal cases where the plaintiff's rights are acknowledged without proven losses. Understand their purpose and implications in law.
Learn about clauses in general insurance terms, which address specific issues within a contract. Discover how these provisions impact your insurance policies.
Understand File and Use Rating Laws, state regulations that allow insurers to implement new rates without obtaining prior approval from the insurance department. Discover its implications in the insurance industry.
Explore the concept of wrongful death action—a civil lawsuit filed by survivors against those responsible for a loved one's death. Learn about the legal aspects.
Explore the concept of gross negligence in legal terminology, where negligence is considered intentional. Learn its implications, differences from ordinary negligence, and legal consequences.
Learn about the term 'Incompetent' in legal terminology, which refers to someone unable to manage their own affairs due to mental incapacity, age, or other reasons.
Discover the definition and importance of the statute of frauds in contract law. Learn which contracts must be written to be legally enforceable.
