14. This contract and assignment does not affect all rights that FSCS has or may acquire against the company and/or third parties and, to the extent that these rights conflict with the terms of this contract and the assignment, FSCS may choose the choice to which you vote, the rights and rights they exercise. A) Representations: These are the written statements you make on your application form that represent the proposed risk to the insurance company. A life insurance application form, for example, shows your age, family history, occupation, etc., representations that should be true in all respects. The violation of representations only occurs if you have incorrect information (for example.B. Their age) in important statements. However, the contract may be void, depending on the type of falsely presented, if a contract is lacking in one of these essential elements, then it is a null contract that is not applied by any court. For example, most contracts signed by a minor are uneasy because they are not legally competent. A cancelled contract may be cancelled by one party if the other party violates the contract or because the essential information contained in the contract is omitted or false. The party entitled to nullity may also choose to impose it.
For example, insurance companies can often cancel a contract because the applicant has provided false information about the application. Therefore, if a person has had a car accident and that person has previously completed the insurance claim indicating that they did not have tickets when they did, the insurance company can cancel the contract and not pay the claim. Although most contracts may be oral, most are written, especially insurance contracts, because of their complexity. On the other hand, life insurance can be transferred freely because the insured remains the same. Many people who have acquired a life-threatening illness have sold their life insurance to third parties to get money to treat their illness or care. Contracting parties must be legally entitled to approve them. Most adults are legally entitled to accept contracts unless they are drunk, mentally ill or mentally disabled. The most important condition is that the parties know what they agree on — a meeting of the spirits; Otherwise, there could be no agreement.