Effects of the insurance contract. Case Study
Effects of the insurance contract. Case Study

Summary/Abstract: The insurance contract is part of the random, onerous contracts that are special in that the extent of the obligations of the parties depends on an external future event. Therefore, as compared to the commutative contracts, parties are held by the chance of the gain and loss as events cannot be evaluated at the time of contracting.In these circumstances, the benefit may be uncertain for a contract subject but generally both subjects were equally likely to win or lose.The odds for the parties are thus correlative, as convened upon wittingly the moment the contract comes into existence. The absence of this legal situation determines the total lack of effects of the contract.

• Details
• Contents