sbj 2 - the bits i dont know Flashcards
(3 cards)
1
Q
insurable interest - definition and the 3 features
A
DEF - legal right to insure arrising out of a financial relationship
FEATURES
- SBJ matter
- legality
- financial value
2
Q
How can insurable interest arise or be created. (3 ways)
A
- common law - EG duty of care for councils
contract - landlord has to maintain property for tennant.
Stature - ones that provide a positive duty.
- EG - repair of benefice building act 1925 (ensures tenants responsible for buildings)
3
Q
Subject matter of insurance vs subject matter of contract.
A
SBJ MATTER INS- what is being insured
SBJ matter of contract - the relationship between insured and SBJ matter of insurance. - EG OWNERSHIP/ liability.
