insurance contract

insurance contract
A contract whereby one person undertakes to indemnify another against loss, damage or liability arising from an unknown or contingent event. An agreement by which one party for a consideration promises to pay money, or its equivalent, or do some act of value, to the assured, upon the destruction or injury of something in which the other party has an interest. State v Willett, 171 Ind 296, 86 NE 68. A contract whereby the insurer in return for a stated consideration agrees on the happening of a specified event to pay the insured a fixed or ascertainable sum of money. Re Barry's Estate, 208 Okla 8, 252 P2d 437, 35 ALR2d 1052. See binder; blanket policy; cash-surrender value; floating policy; insurance; oral insurance contract; rider; slip.

Ballentine's law dictionary. . 1998.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • insurance contract — index policy (contract) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • Insurance contract — An Insurance contract determines the legal framework under which the features of an insurance policy are enforced. Insurance contracts are designed to meet very specific needs and thus have many features not found in many other types of contracts …   Wikipedia

  • insurance contract — /ɪn ʃυərəns ˌkɒntrækt/ noun an agreement by an insurance company to insure …   Dictionary of banking and finance

  • Pension insurance contract — is an insurance contract that specifies pension plan contributions to an insurance undertaking in exchange for which the pension plan benefits will be paid when the members reach a specified retirement age or on earlier exit of members from the… …   Wikipedia

  • frontier insurance contract — pasienio transporto priemonių valdytojų civilinės atsakomybės privalomojo draudimo sutartis statusas Aprobuotas sritis draudimas apibrėžtis Transporto priemonių valdytojų civilinės atsakomybės privalomojo draudimo sutartis, sudaroma, kai ketinama …   Lithuanian dictionary (lietuvių žodynas)

  • standard insurance contract — įprastinė transporto priemonių valdytojų civilinės atsakomybės privalomojo draudimo sutartis statusas Aprobuotas sritis draudimas apibrėžtis Transporto priemonių valdytojų civilinės atsakomybės privalomojo draudimo sutartis, sudaroma, kai… …   Lithuanian dictionary (lietuvių žodynas)

  • European economic area country of the commitment under life insurance contract — įsipareigojimo pagal gyvybės draudimo sutartį Europos ekonominės erdvės valstybė statusas Aprobuotas sritis draudimas apibrėžtis Europos ekonominės erdvės valstybė, kurioje yra įprastinė draudėjo, sudariusio gyvybės draudimo sutartį, gyvenamoji… …   Lithuanian dictionary (lietuvių žodynas)

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • contract of insurance — ˌcontract of inˈsurance noun contracts of insurance PLURALFORM [countable] LAW a formal document giving conditions relating to an insurance agreement: • This summary of benefits is not intended to form part of an offer relative to the contract of …   Financial and business terms

  • CONTRACT — (Heb. חוֹזֶה, ḥozeh), in general law theory a legally binding agreement between two or more parties, in terms of which one party undertakes for the benefit of the other to perform or refrain from a certain act. As such, contract is the main… …   Encyclopedia of Judaism

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”