Explain the following legal doctrines:
Answer to relevant QuestionsInsurance contracts have certain legal characteristics that distinguish them from other contracts. Explain the following legal characteristics of insurance contracts.a. Aleatory contractb. Unilateral contractc. Conditional ...List the four requirements that must be met to form a valid insurance contract.Andrew owns a commercial office building that is insured under three property insurance contracts. He has $100,000 of insurance from Company A, $200,000 from Company B, and $200,000 from Company C.a. Assume that the pro rata ...a. Describe the major types of exclusions typically found in insurance contracts.b. Why are exclusions used by insurers?Janet, age 28, is married and has a son, age 3. She wants to determine how much life insurance she should own based on the capital retention approach. She would like to provide $30,000 each year before taxes to her family if ...
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