| Mr. Aderemi owns a car that was insured under a comprehensive policy. while insuring the car, he did not inform the company that his wife who has no driving license also drives the car. the wife while driving the car, came face to face with rioters who damaged the car. |
A. negligence
B. misrepresentation
C. untrue statement
D. utmost good faith
Correct Answer: Option D
D. utmost good faith
Explanation
“utmost good faith“. It is the name of a legal doctrine that governs insurance contracts. This means that all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal. The parties to the insurance can contract must act in all honestly without withholding necessary information from each other.
300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…