General InsuranceSeen in 10 questions
Unilateral Contract
A contract in which only one party makes an enforceable promise. Only the insurer is legally bound to pay; the insured can simply stop paying premium and let the policy lapse.
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- General InsuranceInsurance is classified as a unilateral contract because:
- General InsuranceWhy is an insurance policy considered a unilateral contract?
- General InsuranceAn insurance policy is a unilateral contract. This means that:
- General InsuranceAn insurance policy is called a unilateral contract because:
- General InsuranceA health insurance policy is considered a unilateral contract because:
- General InsuranceAn insurance contract is called a unilateral contract because:
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