A formal writing style is not necessarily âbetterâ than an informal style, rather each style serves a different purpose and care should be taken in choosing which style to use in each case.
insured contract. A term used to specify the limit of contractual liability coverage. This term can refer to lease agreements, easement agreements, and any other agreement that relates to the insured's business.
contract-a binding agreement between two or more persons that is enforceable by law. clause, article-a separate section of a legal document (as a statute or contract or will). arbitration clause-a clause in a contract providing for arbitration of disputes arising under the contract.