Insurance Is a Contract by Which One Party for a Stipulated

question 35

True/False

Insurance is a contract by which one party for a stipulated consideration promises to pay another party a sum of money on the destruction of,loss of,or injury to something in which the other party has an interest,or to indemnify that party for any loss or liability to which that party is subjected.

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Definitions:

Three-phase

A system of three electrical currents or waves that are offset in phase by one-third of their cycle, commonly used in power systems for efficient electricity distribution.

NEMA

The National Electrical Manufacturers Association, which sets standards for electrical equipment.

Lead Wires

Conductors or cables that connect electrical or electronic components, allowing for the transfer of electrical signals or power.

Conduit Box

A protective enclosure attached to electric motors that houses and protects electrical connections.