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Tag: contract

Contract of insurance is of utmost good faith, says Supreme Court

Contract of insurance is of utmost good faith, says Supreme Court

Finance
NEW DELHI: A contract of insurance is of “utmost good faith” and a proposer who seeks to obtain life insurance policy is duty bound to disclose all material facts bearing upon the issue, the Supreme Court has said. The apex court said this while setting aside the March this year verdict of the National Consumer Disputes Redressal Commission (NCDRC) which had dismissed the plea of an insurance firm against the order asking it to pay full death claim along with interest to the mother of the deceased. A bench headed by Justice D Y Chandrachud noted that the proposal form requires a specific disclosure of pre-existing ailments, so as to enable the insurer to arrive at a considered decision based on the actuarial risk. “A contract of insurance is one of utmost good faith. A proposer who seeks t...
Ancient societies collapsed when leaders ignored the social contract

Ancient societies collapsed when leaders ignored the social contract

Science
Oct. 16 (UPI) -- When ancient societies formerly ruled by principles of good governance failed, they failed hard. According to a new study published in the journal Frontiers in Political Science, ancient autocracies were less likely to last, but suffered less dramatic failures. Advertisement To better understand the role of government on the success and longevity of ancient societies, researchers took an in-depth look at principles that guided the governments of four societies: the Roman Empire, China's Ming Dynasty, India's Mughal Empire and the Venetian Republic. Because free and fair elections were rare or nonexistent during ancient times, researchers had to come up with an alternative for gauging good governance. "You can't really measure it by the role of elections, so important in ...
General Atomics nets $7.4B MQ-9 Reaper contract with U.S. Air Force

General Atomics nets $7.4B MQ-9 Reaper contract with U.S. Air Force

Business
Sept. 18 (UPI) -- A $ 7.4 billion contract between the U.S. Air Force and General Atomics, announced this week, will field MQ-9 Reaper drones faster, the Air Force said. The five-year Agile Reaper Enterprise Solution contract for the unmanned surveillance, intelligence, reconnaissance and strike-capability aircraft was awarded on Thursday. Advertisement It calls for delivery of up to 36 aircraft per year from the San Diego-based company. With a $ 7.4 billion ceiling, it is expected to reduce the time to deliver operational MQ-9s to operational units by 35%. The Air Force regards it as one of its most in-demand weapons, an Air Force Life Cycle Management Center statement said on Thursday. The ARES contract has a pre-negotiated $ 3.3 billion price-quantity-curve, allowing the Air Force and...
Pierre-Emerick Aubameyang suggests he is yet to see new Arsenal contract – but assures fans ‘great news for everybody’ may soon be coming

Pierre-Emerick Aubameyang suggests he is yet to see new Arsenal contract – but assures fans ‘great news for everybody’ may soon be coming

Sports
Pierre-Emerick Aubameyang suggested he has NOT been offered a new contract by Arsenal as his current deal continues to wind down. However, the Gunners captain later suggested ‘great news for everybody’ may soon be coming. Getty Images - Getty Pierre-Emerick Aubameyang insists he has not yet seen the proposed new contract Arsenal want to offer him The Gabon international remains locked in contract negotiations with the hierarchy at the Emirates, with his current deal set to expire next summer. A new three-year deal, worth a reported £250,000-a-week, is said to be on the table as the 31-year-old considers his options. Yet during an Instagram Live session alongside his brother, Willy, Aubameyang said: “Everyone is showing the pen & paper but I still...
Arsenal transfer news LIVE: Pierre-Emerick Aubameyang agrees new contract, Gabriel Magalhaes deal close, Alexandre Lacazette to leave?

Arsenal transfer news LIVE: Pierre-Emerick Aubameyang agrees new contract, Gabriel Magalhaes deal close, Alexandre Lacazette to leave?

Sports
Arsenal boss Mikel Arteta has a big rebuilding job on his hands at the Emirates. The Gunners won the FA Cup in 2019/20 but finished in eighth place in the Premier League, 43 points off champions Liverpool. They are expected to do plenty of business this summer, with players coming in and out of the Emirates. Keep up to date with all the latest Arsenal news and gossip below… Let's block ads! (Why?) talkSPORT