Business Studies, asked by shray99z, 3 months ago

the consideration under contract of insurance is called ​

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Answered by pawarparchi2003
1

Answer:

There is no validity of a contract if there is no consideration, which is the act or promise offered by one party and accepted by the other as the price of his promise. ... Hence premium payment is the consideration on part of the insured and the promise to Indemnify is the consideration on part of the Insurer.

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