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Therefore, the other party must still honor the other subparts and cannot cancel the whole agreement. A severable contract generally must contain a "severability clause" that allows certain clauses and aspects of the contract to be "severed" without affecting the validity of the rest of the contract.
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
National Federation of Independent Business v. Sebelius, 567 U.S. 519 (2012), is a landmark [2] [3] [4] United States Supreme Court decision in which the Court upheld Congress's power to enact most provisions of the Patient Protection and Affordable Care Act (ACA), commonly called Obamacare, [5] [6] and the Health Care and Education Reconciliation Act (HCERA), including a requirement for most ...
If there are uncertain or incomplete clauses in the contract, and all options in resolving its true meaning have failed, it may be possible to sever and void just those affected clauses if the contract includes a severability clause. The test of whether a clause is severable is an objective test—whether a reasonable person would see the ...
Legally required minimums only cover damage you cause. Even with comprehensive and collision, you're financially vulnerable. Learn top situations your standard car insurance won’t cover — and ...
Safeco Insurance Company of America, Ehrlich persuaded the California Supreme Court to part with the majority of courts in the United States by holding that the so-called "severability clause" in an insurance policy renders ambiguous exclusions for the intentional acts of "an" insured.
A suicide clause is standard in the majority of issued life insurance policies. The suicide clause is in place to prevent individuals from purchasing a life insurance policy when they are ...
Key takeaways. Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. The mortgagee clause is a provision that protects the lender from financial ...