The nature of Insurance contracts also subject to:

Answer is option1) <  GENERAL LAW OF GOODS ??????????

Ans:Option1................General laws of goods

The insurance contract is a risk transfer. In this legal transaction, one party undertakes to ensure the interests of another against predetermined risks, upon payment of certain compensatory value, subject to the General Law of the Products or the Consumer Protection Rules, in turn, will be subject to Ordinary Legislation  (Constitution of a Nation). This process can change and be adapted to different nations, cultures and countries and also follow particular specifications of the relations between the parties.

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