Paris

1.
2.
3.
4.
5.

Premiums
Assumption of risk
Risk of Loss
Insurable Interest
Scheme to distribute loss

Characteristics
1. Consensual
2. Voluntary
3. Aleatory
4. Executory
5. Contract of Adhesion
Doing an Insurance Business
Mortgagor and Mortgagee
1. Mortgagor
a. Without the consent of the mortgagee- as against the amount
received in the
Insurable interest (definition)
Property at time policy takes effect and time of loss, but need not exist in
the meantime
Life at time policy takes effect but not after or when loss occurs
P- interest, affinity or consanguinity
L- pecuniary interest
P-limited to amount of property
L no limit
P- need not be proven (pecuniary loss)
L- need to be proven (pecuniary loss)
Insurance on the life of the debtor amount of insurable unsterst on debt of
debtor - life insurance becomes contract of indemnity
Art 79
Cannot be a beneficiary
1. Void against public policy (739 - donation)
2. Purpose is to defraud the insurer, and a form of a wager contract
Memorize Sec 20