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If a merc - Study guides, Class notes & Summaries
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LML 4805 insurance_law_summaries.
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45
November 2021
2021/2022
General principles of insurance law
Ch 1 introduction history and sources of insurance law
5. prelim def of ins contract: Lake v Reinsurance corp: A contract between an insurer (or assurer) and an insured (or
assured) whereby the insurer undertakes in return for the payment of a price or premium to render to the insured a
sum of money or its equivalent on the happening of a specified uncertain event in which the insured has some
interest.
- def bridges gap between indemnity and non-indemni...
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