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  2. Misrepresentation - Wikipedia

    en.wikipedia.org/wiki/Misrepresentation

    A contract uberrimae fidei is a contract of 'utmost good faith', and include contracts of insurance, business partnerships, and family agreements. [27] When applying for insurance, the proposer must disclose all material facts for the insurer properly to assess the risk.

  3. Rescission (contract law) - Wikipedia

    en.wikipedia.org/wiki/Rescission_(contract_law)

    Insurers have the right to rescind an insurance policy due to concealment, material misrepresentation, or material breach of warranty. Generally, to rescind, an insurer will send a notice to the insured and tender a check in the amount of the premium paid for the relevant policy period

  4. Mistake (contract law) - Wikipedia

    en.wikipedia.org/wiki/Mistake_(contract_law)

    A mutual mistake occurs when the parties to a contract are both mistaken about the same material fact within their contract. They are at cross purposes. There is a meeting of the minds, but the parties are mistaken. Hence the contract is voidable. Collateral mistakes will not afford the right of rescission. A collateral mistake is one that ...

  5. Misselling - Wikipedia

    en.wikipedia.org/wiki/Misselling

    Misselling is the deliberate, reckless, or negligent sale of products or services in circumstances where the contract is either misrepresented, or the product or service is unsuitable for the customer's needs.

  6. Material fact - Wikipedia

    en.wikipedia.org/wiki/Material_fact

    A material fact is a fact that a reasonable person would recognize as relevant to a decision to be made, as distinguished from an insignificant, trivial, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision.

  7. California Insurance Code - Wikipedia

    en.wikipedia.org/wiki/California_Insurance_Code

    [A]n insurer may, under [California] Insurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance ...

  8. What happens if you lie on your life insurance application? - AOL

    www.aol.com/finance/happens-lie-life-insurance...

    Lighter Side. Medicare. new

  9. False pretenses - Wikipedia

    en.wikipedia.org/wiki/False_pretenses

    Under common law, false pretense is defined as a representation of a present or past fact, which the thief knows to be false, and which he intends will and does cause the victim to pass title of his property. That is, false pretense is the acquisition of title from a victim by fraud or misrepresentation of a material past or present fact.