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The Insurance Code: History of Insurance in Philippines
The Insurance Code: History of Insurance in Philippines
The Insurance Code: History of Insurance in Philippines
Consensual
Voluntary
Aleatory in the sense that it depends upon some contingent event
Unilateral contract- imposing legal duties only on the insurer who
promises to indemnify in case of loss.
Conditional- it is subject to conditions the principal one of which is
the happening of the event insured against
Contract of indemnity- because the promise of the insurer is to
make good only the loss of the insured
Personal contract- each party having in view the character, credit
and conduct of the other.
Property in legal contemplation.