- Study guides, Class notes & Summaries

In what way is an insurance contract unilateral? Only one party (the insurer) makes a promise that is enforceable by law Neither party may be forced to comply with policy terms The insured has a choice of insurers Only one party (the Insured) makes a promise that is enforceable by law 2. In a scenario where a policyholder pays a premium for a life insurance policy but does not pass away during the policy term, how does this exemplify the concept of aleatory contracts? The contract becomes v...