The Words Used in an Insurance Contract Are Interpreted Against

question 1

True/False

The words used in an insurance contract are interpreted against the party who applied for the policy.

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Definitions:

Express Contract

A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.

Express Contract

A legally-binding agreement in which the terms are explicitly stated by the parties involved either orally or in writing.

Unilateral Contract

A contract in which one party makes a promise in exchange for an act by the other party, becoming binding only when the act is completed.

Implied

Suggested or understood without being directly stated.