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Insurance and the Legal Process

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Insurance and the Legal Process Insurance and the Legal Process Table of Contents Chapter 1: Philosophy of Law ................................................................................................................................. 1 Purpose of the Law .............................................................................................................................................. 1 The Legal System Develops ................................................................................................................................ 2 History of Law ...................................................................................................................................................... 7 Classes of Law .................................................................................................................................................. 13 Chapter 2: The U.S. Legal System ....................................................................................................................... 15 The Federal Court System ................................................................................................................................. 16 A Trip Through the Court System ...................................................................................................................... 19 Criminal Law ...................................................................................................................................................... 24 Insurance and Statutory Liability ....................................................................................................................... 30 Great West Casualty Co. V. MSI Insurance Co ................................................................................................. 34 Chapter 3: Civil Law Fundamentals- Liability, Tort, and Contracts ....................................................................... 40 Basis of Legal Liability ....................................................................................................................................... 40 No-Fault ............................................................................................................................................................. 47 Collins V. Farmers Insurance Co. of Oregon ..................................................................................................... 54 Contracts............................................................................................................................................................ 57 Importance of Contracts .................................................................................................................................... 59 Contract Essentials ............................................................................................................................................ 60 Contract Essential Mutual Assent or Agreement ............................................................................................... 61 Contract Essential: Consideration ..................................................................................................................... 62 Contract Essential: Legality ............................................................................................................................... 63 Contract Essential: Contractual Capacity .......................................................................................................... 64 Other Contractual Conditions ............................................................................................................................ 65 Insurance Contracts ........................................................................................................................................... 65 Chapter 4: Components of Civil Law- Concepts and Insurance Relationships .................................................... 67 Weaver v. Metropolitan Life Insurance Co. ....................................................................................................... 74 License ............................................................................................................................................................... 76 Concept of Property ........................................................................................................................................... 77 Personal Property .............................................................................................................................................. 77 Title Acquisition To Property .............................................................................................................................. 80 Real Property ..................................................................................................................................................... 80 Property Owner’s Responsibility ........................................................................................................................ 83 Property and Insurance ..................................................................................................................................... 84 Bailment ............................................................................................................................................................. 84 Waiver and Estoppel .......................................................................................................................................... 86 Parol Evidence Rule .......................................................................................................................................... 89 Statute of Frauds ............................................................................................................................................... 91 Great American Indemnity Co v Berryessa. ...................................................................................................... 93 Suretyship .......................................................................................................................................................... 95 Chapter 5: Insurance Law Fundamentals ............................................................................................................. 98 Characteristics of a Property Casualty Contract................................................................................................ 99 Components Of The Contract ............................................................................................................................ 99 Characteristics Of Life Insurance Contracts .................................................................................................... 103 Distinctive Features Of The Insurance Contract.............................................................................................. 105 Karl v. New York Life Insurance Co. ................................................................................................................ 109 The Insurance Contract and Public Interest .................................................................................................... 112 Insurable Interest ............................................................................................................................................. 114 Rubenstein v. Mutual Life Insurance Co. Of New York ................................................................................... 116 Chapter 6: Insurance Coverages ........................................................................................................................ 121 Who or What is Covered .................................................................................................................................. 122 Marshall Produce Co. v. St. Paul Fire & Marine Ins. Co. ................................................................................ 126 Contractual Rights ........................................................................................................................................... 129 Assignments .................................................................................................................................................... 132 Third-Party Beneficiary to Contracts ................................................................................................................ 135 Ginsburg v. Bull Dog Auto Fire Ins. Ass’n of Chicago ..................................................................................... 138 Exclusions ........................................................................................................................................................ 140 i Insurance and the Legal Process Under the Insurance Contract.......................................................................................................................... 140 Bad Faith Cause of Action ............................................................................................................................... 141 Chapter 7: More Insurance Coverage; Insurer Defenses ................................................................................... 145 Insurer Defenses Gone Awry........................................................................................................................... 145 Parallel Cases .................................................................................................................................................
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