What Is It That Distinguishes an Insurance Contract from an Ordinary

question 35

Multiple Choice

What is it that distinguishes an insurance contract from an ordinary business contract?

• A) There is uncertainty that could result in either a gain or a loss.
• B) Both parties believe that the contractual price and the value of the contractual goods are equivalent.
• C) The insured will receive a sum of money on the occurrence of an event which must occur at some time, although the time of the occurrence is uncertain.
• D) One party knows that they are paying a price far less than the value provided by the other party and that the other party will only have to perform if certain conditions are met.

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Definitions:

Nursing Action

Any measure or intervention carried out by a nurse to enhance patient care and improve health outcomes.

Sensorineural Hearing Loss

A type of hearing loss resulting from damage to the inner ear or auditory nerve pathways.

Cochlear Implant

A medical device that bypasses damaged structures in the ear and directly stimulates the auditory nerve, helping to provide a sense of sound to a person who is profoundly deaf or severely hard of hearing.