Which of the Following Best Defines Subrogation

question 7

Multiple Choice

Which of the following best defines subrogation?

• A) It is the right of an insurer to claim warranty in case of breach of contract.
• B) It is the right of an insurer to assume the legal rights of the insured.
• C) It is the right of an insured to conceal certain facts from the insurer.
• D) It is the right of an insurer to deny life insurance claims in the case of suicide.

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Definitions:

Statutory Law

Laws that have been formally written and passed by legislative bodies.

Law of Contracts

The body of law addressing the formation, interpretation, and enforcement of agreements between parties.

Common Law

A system of law based on precedent and customs, arising from the decisions of courts and similar tribunals rather than from statutes.

Proper Form

The correct or acceptable format or procedure that is required or established by law or policy.