In the Case of Contracts Other Than for Insurance, It

question 60

True/False

In the case of contracts other than for insurance, it is generally assumed that each party has equal knowledge and access to the facts, and thus each is subject to requirements of "good faith," not "utmost good faith.

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Definitions:

Extrinsic

Originating from or motivated by external factors outside of the individual's own self, often relating to rewards or outside recognition.

Willingness

The quality or state of being prepared to do something; readiness.

Rough-And-Tumble Play

Vigorous play that involves physical activities like running, chasing, and play-fighting, important for social and physical development.

United States

A country in North America consisting of 50 states and a federal district, known for its diverse geography and cultural influence globally.