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What conditions must be met in order for an insurance contract to be valid?

      

Give conditions that must be met in order for an insurance contract to be valid.

  

Answers


Maurice
(i) The payment of premium as a consideration must be done.

(ii) The risk must be insurable.

(iii) It must be for legal purpose.

(iv) The insured and the insurer must have legal capacity to contract.

(v) The terms and conditions of the contract must be acceptable to both parties.
maurice.mutuku answered the question on July 10, 2017 at 06:14


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