Florida Health 240 Insurance Complete Questions & Answers(Latest Update 2023)
Rules of Construction - ANSWERSHelp to identify and establish the intent of the parties to the contract Utmost good faith - ANSWERSEach party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract - ANSWERSA contract under which one party's performance is contingent on an uncertain event. property and casualty agent - ANSWERShas the power to bind the insurer Adhesion Contract - ANSWERSInsurance company drafts contract and the insured adheres to it. Any ambiguity resolved in favor of the insured. Unilateral contract - ANSWERSInsured has completed paying the premium, only one party of the contract is legally required to do something. Insured promises to pay the death benefit in the event of loss. Can not be held for breach of contract. Conditional contract - ANSWERSThis type of contract is conditional because the company only pays on condition of a loss. Personal Contract - ANSWERSThe contract is between the insured and the insurer warranty - ANSWERSguarantee; assurance by seller. Any breach provides grounds for voiding the contract. representation - ANSWERSa statement believed to be true to the best of one's knowledge.
Información del documento
- Subido en
- 19 de agosto de 2023
- Número de páginas
- 15
- Escrito en
- 2023/2024
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
