Practice question
A policy states risks and period but omits who contracts with whom and which property or life is insured. A drafter says completing two listed items satisfies all of Section 51. Which is correct?
- Any two items always suffice
- The other applicable listed contents remain independently required
- All parties are presumed to be every person worldwide
- Every property is automatically covered
- The broker’s own property becomes the subject
Legal references
- Insurance Code as amended by RA 10607: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html; Section 51.
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