Legal Terms

A

B

C

D

E

F

G

H

I

J

K

L

M

N

O

P

Q

R

S

T

U

V

W

X

Y

Z

Click a letter to browse that section.

Warranty.

A statement made on an application for most kinds of insurance that is warranted as true in all respects. If untrue in any respect, even though the untruth was not known to the applicant, the contract may be voided without regard to the materiality of the statement. By contrast, statements in Life and Health applications are not warranties except in cases of fraud, and the trend in more recent court decisions in other lines has tended to modify the doctrine of warranty to an application only when the statement is material to a risk or the circumstances of a loss.

Warranty, Implied.

See Implied Warranty.

Wrongful Death Action.

A civil court suit brought by survivors against someone believed responsible, by negligence or intention, for another's death. In a few states actions for wrongful death have statutory minimums or maximums, but in most states they do not.