Question

Explain the principle of Utmost Good Faith.
In brief for std 11​

Answer 1

Explanation:

legally obliging all parties entering a contract to act honestly and not mislead or withhold critical information from one another. The doctrine of utmost good faith applies to many everyday financial transactions and is one of the most fundamental doctrines in insurance law.

eg. jaise aap insurance krate ho life inaurance and u have heart disease aur aap ni batate insuurance co. ko to wahan pe principle of utmost good faith exploit hota hai.

Answer 2

Answer:-

A contract of insurance is a contract of uberrimae fidei. It implies that a contract of insurance is found on utmost good faith. Both the insurer and the insured are under an obligation to display good faith towards each other. The insured is under the duty to make full and accurate disclosure of all the material facts voluntarily. The insurer is also under an obligation to make clear all the terms and conditions in the insurance contract to the insured. In the case of non-disclosure by the insured, the insurance contract is voidable at the discretion of the insurer.

hope itz help you..❣️