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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 ...
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.
This is accomplished by adding a mortgagee clause to your homeowners insurance policy. For example, say you buy a house for $500,000 with a $100,000 down payment and a $400,000 mortgage. To ...
If Ann sued Charlotte's bar alone, Charlotte's bar would be liable for the full $10 million despite only being 10% at fault for the injury. If Charlotte's bar had an insurance policy with a liability limit of less than $10 million, the bar would remain liable for any amount over and above the policy limit.
A life insurance suicide clause is a critical detail that can have significant implications for beneficiaries. This clause typically applies for the first one to two years after a policy is issued ...