Coverage Applies for Accidents Arising Out of Ownership, Maintenance, or Use

question 15

True/False

Coverage applies for accidents arising out of ownership, maintenance, or use of a motor vehicle you own or have available for regular use even if it is not a declared auto in the declarations section of the policy.

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Definitions:

Novation

A legal process that involves the replacement of an existing obligation with a new one, transferring the rights and duties to a different party.

Anticipatory Breach

An action in contractual agreements where one party indicates they will not fulfill their contractual obligations before the due time.

Abandonment

The act of giving up a legal right or interest with the intention of never claiming it again, often seen in property or relationship contexts.

Contractual Obligations

Duties that parties are legally bound to perform as specified in a contract, the failure of which could lead to legal consequences.