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AIC 33-5
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Good faith
In insurance, consideration given to the insured's interests that is at least equal to that given to the insurer's interest in handling a claim.
Breach of contract
The failure, without leagal cause, to fulfill a contractual promise.
Defendant
The party (person or entity) against whom relief or recover is sought in a lawsuit.
Plaintiff
The person or entity who files a lawsuit and is named as a party.
Contractual damages
The amounts payable under the contract according to the terms of the contract.
Consequential damages
A payment awarded by a court to indemnify an injured party for losses that result indirectly from a wrong such as a breach of contract or a tort.
Statute of limitations
A statute that imposes time limits on when a cause of action can be brought, starting from the time the cause of action accrues.
Author
TimBlack
ID
56427
Card Set
AIC 33-5
Description
AIC 33 Chapter 5
Updated
2010-12-19T23:59:32Z
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