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Unilateral Contract Insurance - From the view of the law, a contract by which one party by receiving something of value that is known as a premium, bearing a risk of loss or liability against the other party, in accordance with a plan (the plan) to distribute the risk, is any form of insurance contract or the name by which he was wearing. Many contracts at a glance and then looked like the looks of the insurance, but if this turns out to be scrutinized by definition are not eligible.


Unilateral Contract Insurance - Characteristics of Insurance Contract

The Characteristics Of Insurance Contract

There are some specific characteristics in the insurance contract:

1. The contract of chancy (Aleatory Contract)
Most contracts are commutative meaning each party submit the goods or services that are considered of equal value. However, the insurance contract is aleatory mean parties who make contracts realized that the amount of money that will be submitted by each of the parties will not be the same.

2. A contract of Adhesion
The opposite of contract bargaining is usually an insurance contract, a contract of adhesion. The agreement is generally made by the lawyers and other representatives of insurance companies, or perhaps by the representatives of the Government. Usually a contract was awarded to a candidate who was borne in the spirit of's "accept or reject ". Prospective buyers of insurance could not file a proposal, so that the insurance company change a bit this section or replace a Word. Read: 7 Elements of Insurance Contract

3. Unilateral Contract (Unilaterally)
The contract can be unilaterally or bilaterally. The exchange of a promise with a promise is bilateral (side two), while the exchange of an action with a promise is unilaterally (unilateral). The insurance contract is a contract unilaterally it means Parties which are covered already pay a premium, only one side open to legal appointments apply to carry out anything next. Insurance company promising implementation (performance).

4. Conditional Contract (Conditionals)
The insurance contract is a contract is conditional. It is true that the contract has been completely fulfilled by the parties to the paid premium and give with the living insurance company are obliged to fulfill his promise. However, this does not mean there are no more requirements to be met are borne by the parties if he wants to obtain a replacement over the losses. The difference between a promise  condition (condition) is that the promises can be enforced legally into force, while the terms of the (condition) do not. The influence of he broke a prong is the party that incurred no gain indemnities from insurance companies. 

5. Fully based on Trust
In General, any contracts are based on belief (bona fide, contract, good-faith contract). However, the insurance contract is a contract that is entirely based on trust.

6. Private Contract
People said that it treasures insurance is a private contract as well as the contract of marriage. Both parties incurred nor the insurer (insurance companies) are not only paying attention to the contract but also character, behavior, and bonafiditas, of each party. In ordinary language it says something of the goods insured. But behold, the insured is the owner of that item. Read: Principles of Insurance and Elements of Insurance Contract

7. The Indemnity Principle (Principle of Indemnity)
The contract of insurance of property and liability insurance (liability insurance) in General is a contract of indemnity, meaning that he said will indemnify for the damage suffered by the parties to the paid. Replacement lower (under compensate) is allowed but not higher reimbursement. One of the main problems of the application of the principle of indemnification is how to measure the right compensation in order not to give rise to a profit or loss. So here, it takes three important doctrine arising from the principle of indemnity is: the interests that can be insured, amount of reimbursement restrictions of an insurance policy.