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.
11.-3. In the contract of insurance, there are certain warranties which are inducements to the insurer to enter into it. A warranty of this kind is a stipulation or agreement on the part of the insured, in the nature of a condition precedent.