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What is the primary distinction between the "subject matter of insurance" and the "subject-matter of insurance contract," as mentioned in the text?
  • a)
    The subject matter of insurance is the property being insured, while the subject-matter of the insurance contract is the premium amount.
  • b)
    The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the property being insured.
  • c)
    There is no distinction between the two terms; they are synonymous.
  • d)
    The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the legal form of the contract.
Correct answer is option 'A'. Can you explain this answer?
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What is the primary distinction between the "subject matter of in...
The primary distinction between the "subject matter of insurance" and the "subject-matter of insurance contract" is that the subject matter of insurance is the property being insured, while the subject-matter of the insurance contract is the premium amount. In other words, the former refers to what is being insured (e.g., a house, life, cargo), while the latter refers to the financial interest or consideration involved in the insurance contract, which includes the premium paid by the insured.
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What is the primary distinction between the "subject matter of insurance" and the "subject-matter of insurance contract," as mentioned in the text?a)The subject matter of insurance is the property being insured, while the subject-matter of the insurance contract is the premium amount.b)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the property being insured.c)There is no distinction between the two terms; they are synonymous.d)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the legal form of the contract.Correct answer is option 'A'. Can you explain this answer?
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What is the primary distinction between the "subject matter of insurance" and the "subject-matter of insurance contract," as mentioned in the text?a)The subject matter of insurance is the property being insured, while the subject-matter of the insurance contract is the premium amount.b)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the property being insured.c)There is no distinction between the two terms; they are synonymous.d)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the legal form of the contract.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary distinction between the "subject matter of insurance" and the "subject-matter of insurance contract," as mentioned in the text?a)The subject matter of insurance is the property being insured, while the subject-matter of the insurance contract is the premium amount.b)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the property being insured.c)There is no distinction between the two terms; they are synonymous.d)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the legal form of the contract.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary distinction between the "subject matter of insurance" and the "subject-matter of insurance contract," as mentioned in the text?a)The subject matter of insurance is the property being insured, while the subject-matter of the insurance contract is the premium amount.b)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the property being insured.c)There is no distinction between the two terms; they are synonymous.d)The subject matter of insurance is the premium amount, while the subject-matter of the insurance contract is the legal form of the contract.Correct answer is option 'A'. Can you explain this answer?.
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