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Distinctions of Insurance Agreement from Contingent Transactions

Author (s)

Sultonova Tahmina Istamovna

Abstract

The author of the article adduces the ratio between agreement insurance and contingent transactions. She comes to the conclusion that in spite of the resemblance between an a leatory agreements with a contingent transaction there are no adequate grounds for confusion of these two contractual structures. Condition can occar in any legal civil transaction being its additional random part and presenting a reservation attached by the parties to the main (major) transaction. As for insurance agreement, provision referring to a contingent chance is an element of central importance in interrelations of partoes as it is established not by a compliance of parties, but by a mandatory prescription of the law; non-observance of the former makes an insurance agreement invalid.

Keywords

insurance agreement, contingent agreement, aleatory, unknown event, legal consequences of transaction

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Times New Roman

Publication date

Friday, 13 November 2015