Examlex
Which of the following is not an assumption of LP?
Insurance Policy
A contract between an insurer and a policyholder that specifies the terms under which the insurer agrees to compensate the policyholder for loss caused by specific events.
Declaratory Judgment Action
A legal procedure wherein the court determines the rights of parties without ordering any specific action or awarding damages.
Subrogation Action
A legal action where an insurer seeks to recover the amount of an insurance claim paid to the insured from the party responsible for causing the loss.
Indemnity Action
A legal action seeking compensation for damages or loss from another party as recompense for harm suffered.
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