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Insurance Act, 1938 (as amended up to 2019) Indian Contract Act, 1872 (as amended up to 2018) Transfer of Property Act, 1882 (as amended up to 2019) Other Acts like the Road Goods Movement Act, Road Transport Corporations Act, etc. The Motor Vehicles Act of 1988 mandates that every motor vehicle plying on the road is insured.
Coal Mines (Special Provisions) Act: 2015: 11 Repealing and Amending Act: 2015: 17 Repealing and Amending (Second) Act: 2015: 19 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act: 2015: 22 Juvenile Justice (Care and Protection of Children) Act: 2016: 2 Commercial Courts Act: 2016: 4 Bureau of Indian Standards Act ...
The Insurance Act 2015 codifies common law principles that an insurer is not obligated to pay fraudulent claims, and may recover payments already made from the insured should fraud later be discovered. Upon proper notice to the insured, the insurer may also treat the insurance contract as if it was terminated at the time of the "fraudulent act ...
The Insurance Act 2015 (c. 4) is a United Kingdom act of Parliament which makes significant reforms to insurance law. [1] It came into effect on 12 August 2016, [ 2 ] and follows on from the Consumer Insurance (Disclosure and Representations) Act 2012 ("CIDRA").
Indian Contract law is popularly known as mercantile law of India. Originally Indian Sales of Goods Act and Partnership Act were part of Indian Contract act, but due to needed amendment these acts were separated from Contract Act. The Contract act occupies the most important place in legal agreements in India.
Section 11 of The Indian Contract Act specifies that every person is competent to contract provided: He should not be a minor i.e. an individual who has not attained the age of majority i.e. 18 years in normal case and 21 years if guardian is appointed by the Court. [2] He should be of sound mind while making a contract.
The concept of good faith was established in the insurance industry following the events of Carter v Boehm (1766), and is enshrined in the Insurance Contracts Act 1984 (ICA). [26] The act stipulates, in Section 13, obligations of all parties within a contract to act with utmost good faith.
The Insurance Act of 1938 [9] was the first legislation governing all forms of insurance to provide strict state control over insurance business. Life insurance in India was completely nationalised on 19 January 1956, through the Life Insurance Corporation Act.