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Paul [167]
3 years ago
5

In insurance policies, the insured is not legally bound to any particular action in the insurance contract, but the insurer is l

egally obligated to pay losses covered by the policy. What contract element does this describe?
a. Unilateral
b. Unidirectional
c. Aleatory
d. Conditional
Business
1 answer:
Margarita [4]3 years ago
3 0

Answer: Unilateral contract.

Explanation:

A unilateral contract is a contract in which promise to fulfill a requirement is made only in one direction, when only the offeror makes a promise and the offeree is on the receiving end of the promise. In insurance the insurer is the only one who makes a promise while the insured is the one receiving the offer(and can break from the agreement at any time).The insurer is the offeror while the insured is the offeree.

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