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What is principle of utmost good …

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What is principle of utmost good faith

Posted by Mahak Jain 7 years, 2 months ago

CBSE > Class 11 > Business Studies

2 answers

Sakshi Sharma ??️??️??️ 7 years, 2 months ago

Under this principle of insurance,contract both the parties should have faith over each other.As a client it is the duty of the insured to disclose all the facts to the insurance company.Any fraud or misrepresentation of facts can result into cancellation of the contract.

Kiran Jot Toor 7 years, 2 months ago

Principle of utmost good faith states that the two parties of deal cannot hide anything from them .they have to disclose every deal related information in contract of insurance

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