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The financial interest of the insured in an insurance policy is the

Insurance
WAEC 2018

The financial interest of the insured in an insurance policy is the

  • A. subject matter of insurance
  • B. subject matter of the contract
  • C. assignment of the contract
  • D. deed of the contract
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Correct Answer: Option C
Explanation

An assignment of contract occurs when one party to an existing contract (the "assignor") hands off the contract's obligations and benefits to another party (the "assignee"). Ideally, the assignorwants the assignee to step into his shoes and assume all of his contractual obligations and rights.


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JAMB CBT 2025 - Candidates, Schools, Centres, Resellers - Get Ready!
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
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