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- Title
THE SPECIAL NATURE OF THE INSURANCE CONTRACT: A FEW SUGGESTIONS FOR FURTHER STUDY.
- Authors
SCHULTZ, FRANKLIN M.
- Abstract
The article focuses on the nature of the insurance contract. It states that the insurance contract is seldom read by the insured and is never fully understood and can be therefore termed as a one-sided bargain. It offers information on the formation of a life insurance contract in the U.S. which begins with the application and investigation about the insurance applicant followed by the premium information. It reports on the performance clause in the life insurance policy which unlike other insurance types, is aleatory. It offers information on the settlement practices in the life insurance contract which occurs at the time of death of the insured.
- Subjects
UNITED States; INSURANCE policies; LIFE insurance; INSURANCE premiums; PERFORMANCE (Law); CLAUSES (Law); ALEATORY contracts; INSURANCE claims; DEATH
- Publication
Law & Contemporary Problems, 1950, Vol 15, Issue 3, p376
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1189969