A deductible is a sum of loss from which the insurance policy expressly excludes coverage.
What do you mean by insurance contract?
In a legal document called as an insurance contract, the agreement between an insurance provider and the insured is laid out. Every insurance transaction is centered around the insuring agreement, which specifies the risks covered, the policy's limits, and the length of the policy.
What type of contract is an insurance policy?
One party only makes an enforceable guarantee in a unilateral contract, which is referred to as such. When it comes to making a legally binding commitment to pay covered claims, the insurer alone establishes unilateral contracts that make up the majority of insurance policies.
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Answer:
The right chronological order is:
The 1)Constitutional Convetion, in which the 2)Articles of Confederation were drafted, but had to be replaced because they made the federal government too weak and ineffective.
The 3)Federalist Papers were then written by James Madison and Alexander Hamilton, in order to promote the new constiution, which was ratified (4)Ratification of the Constitution).
However, the Anti Federalists were skeptical of the new constitution, and to gain their support, the 5)Bill of Rights was added.
