Vipravar Rao, University of Allahabad
ABSTRACT
To form a contract between the Insurer and the Insured person utmost good faith is very essential element because both parties were unaware of facts. So, the only way left to know the facts is telling all relevant facts to each other and believe it to be true for forming contract. In case if any lie found later of the contract formed, then the other party get discretionary power either to end the contract of insurance or to continue. So, every contract of insurance is depending upon the utmost good faith.
