Rescission:Rescission is a legal remedy that allows the insurer to cancel the insurance contract and return both parties to their pre-contractual position. Rescission typically occurs when the misrepresentation is fraudulent, deliberate, or material. It involves the return of premiums paid by the insur...
Rescission is a common practice in theinsuranceindustry. Insurers that provide life, fire, auto, and health coverage have aright to rescindpolicies without court approval, if, for example, they can prove that an application was submitted with false information. Consumers who want to fight this ca...
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Innocent misrepresentation is a false statement of material fact by the defendant, who was unaware at the time of contract signing that the statement was untrue. The remedy in this situation is usually rescission or cancellation of the contract.2 ...
contract holder has an insurance interest in the vehicle. If there’s an accident that results in a claim and the person who owns the policy doesn’t actually own all or part of the car, the insurance company does not have to pay out, because the policyholder violated the essence of ...
Besides VA loans, borrowers typically incur private mortgage insurance (PMI) when you finance over 80% of your home’s value. Refinancing your mortgage in this scenario could provide a chance to eliminate this cost. This opportunity is open to borrowers with a loan-to-value (LTV) ratio of ...
would come to about $6,927 — right around the national average. However, home prices can vary widely depending on where in Nevada you’re buying. In Reno, for example, June’s median price was more than $100,000 higher than it was in Las Vegas, which would mean higher closing costs...
A fiduciary is any person or entity that legally and ethically acts on behalf of another individual or group. It can be a legal guardian, a financial advisor, a trustee, an executor, a broker, a banker, or an insurance agent. REtipster does not provide legal advice.The information in thi...
Spring EQ borrowers get their cash on average in 18 days. The time period calculation to get cash is based on the last 6 months of 2021 loan fundings, assumes the funds are wired, excludes weekends, and excludes the government-mandated 3-day right of rescission grace period. The amount ...