- 10 Marks
BL – May 2015 – L1 – SB – Q5a – Contract Law
Define the concept of assignment in relation to insurance and explain the types of assignment possible.
Question
Assignment is ONE of the principles in a contract of insurance.
Required:
i. Define the concept of assignment in relation to insurance contracts. (3 Marks)
ii. State the THREE types of assignment that are possible under an insurance contract. (3 Marks)
iii. “Insurance contracts are contracts uberrimae fidei”. Explain this doctrine, and state any ONE major duty the doctrine imposes on the parties to an insurance contract. (4 Marks)
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