Massachusetts General Laws ch. 175 sec. 2 – Insurance contract; definition
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Section 2. A contract of insurance is an agreement by which one party for a consideration promises to pay money or its equivalent, or to do an act valuable to the insured, upon the destruction, loss or injury of something in which the other party has an interest.
Terms Used In Massachusetts General Laws ch. 175 sec. 2
- Contract: A legal written agreement that becomes binding when signed.