Asked by Saatvic Arora on Jul 17, 2024
Verified
In order for an insurance agreement not to be declared void as an illegal contract, what must be demonstrated?
Illegal Contract
A contract that is not enforceable because it involves activities that are against the law.
Insurance Agreement
A formal contract where one party agrees to indemnify another against loss, damage, or liability in return for payment of a premium.
Demonstrated Requirements
Clearly defined and verified needs or conditions that must be met or complied with.
- Identify the differences among numerous insurance forms and their relevance.
Verified Answer
DR
Daniela RamosJul 22, 2024
Final Answer :
That the insured has an insurable interest in the property or matter being insured.
Learning Objectives
- Identify the differences among numerous insurance forms and their relevance.