Friday 8pm - OneNote o Search History Review View Help Now Section 2 Quld Notes Fcon 202 Physics English 112 Introductory of Financ. Principles of Marketing 6. Any ambiguities (gray areas not defined) are interpreted in favor of the person not writing the contract Unilateral - Aleatory Bilateral Adhesion 7. Having both parties to an insurance contract act without misrepresentations, warranties, or concealment The principle of a valid legal contract - The principle of utmost good faith The principle of best practices The principle of adhesion in a valid contract 8. Warranties are A specific fact that is part of the contract A warning of conditions that may occur A immaterial fact that could change coverage The best guarantee for service after a loss 9. Aleatory contract is when One party writes the contract and the other party is subject to it - The contract could be void if misrepresentations are discovered There may be an unequal exchange of values Premiums and service provide are equal 10. If a person purchasing insurance does not disclose a material fact they are practicing Representation that may still pay in the event of a claim if not material - Warranties that may void the contract Avoidance that could eliminate the coverage Concealment that may cause a claim to be denied