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When an insurance policy is declared void because of a false declaration ; the principle...

Commerce
WAEC 2012

When an insurance policy is declared void because of a false declaration ; the principle involved is

  • A. indemnity
  • B. subrogation
  • C. proximate cause
  • D. utmost good faith
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Correct Answer: Option D
Explanation

 The doctrine of utmost good faith is a principle used in insurance contracts, legally obliging all parties to act honestly and not mislead or withhold  important information while entering the contract


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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