Case

CIVIL CODE OF THE REPUBLIC OF ARMENIA Chapter 54. Insurance Article 983. Voluntary and lordly Insurance 1.Insurance shall be conducted on the basis of contracts of property or individualised redress concluded by a citizen or legal person (the insured) with an damages policy organization (the insurer). 2.The contract of personal insurance is a public contract (Article 442). 3.In cases when a statute imposes upon persons indicated in it a duty to insure as the insured the life, health, or property of other persons or their civil law indebtedness to other persons at the insureds own expense or at the expense of the interested persons (compulsory insurance), the insurance shall be conducted by the concluding of a contract in accordance with the rules of the portray Chapter. For the insurers the concluding of contracts of insurance on conditions proposed by the insured shall not be obligatory. 4.A statute may provide for cases of obligatory insurance of the life, health, and property of citizens at the expense of funds of the budget (obligatory claim insurance). Article 984. Interests, Insurance of Which is Not Permitted 1.Insurance is not allowed: of unlawful interests; for losings from participation in games, lotteries, and wagers. 2.

Terms of a contract of insurance contradicting dissever 1 of the present Article are void. Article 985. The specialise of Property Insurance 1.Under the contract of property insurance, one party (the insurer) undertakes the duty, in exchange for the payment stated in the contract (the insurance premium), upon the happening of the matter provided in the contract (the insured event) to yield the other party (the insured), or the other person for whose earn the contract is concluded (the benefit-aquirer), for the losses caused as the result of this event to the insured property or losses in link with other property interests of the insured (to pay the insurance compensation) at bottom the limits of the sum determined by the... If you want to get a full essay, order it on our website: Orderessay

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