Concealment in Insurance

Concealment is a “neglect to communicate that which a party knows and ought to communicate.”[1] Thus, each party is required to communicate in good faith to the other all facts within his knowledge which are material to the contract and as to which he makes no warranty, and which the other has not the means of ascertaining.[2]

Best Legal Practices:

Disclose as much as possible – As a contract of insurance is one of uberrimae fidae (utmost good faith), each party should disclose as much as possible any relevant information.

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Works Not Protected by Copyright

Other than works protection by copyright, no protection is extended to: (a) any idea, procedure, system, method or operation, concept, principle, discovery or mere data as such, even if they are expressed, explained, illustrated or embodied in a work; (b) news of the day and other miscellaneous facts having the character of mere items of press information; or (c) any official text of a legislative, administrative or legal nature, as well as any official translation thereof. [1]

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Concept of Insurance

A contract of insurance is “an agreement whereby one undertakes for a consideration to indemnify another against loss, damage or liability arising from an unknown or contingent event.”[1]

Within the meaning of the Insurance Code, a contract of suretyship is deemed as an insurance contract “only if made by a surety who or which, as such, is doing an insurance business as hereinafter provided.”[2]

Best Legal Practices:

Safekeeping insurance contract or policy is highly recommended – As an insurance contract or policy is one that requires to be in writing, safekeeping the same is highly recommended considering it is the best evidence available.

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How to terminate a contract of agency

The contract of agency may be extinguished by the following modes:

  1. By revocation of the agency;
  2. By the withdrawal of the agent;
  3. By the death, civil interdiction, insanity or insolvency of the principal or of the agent;
  4. By the dissolution of the firm or corporation which entrusted or accepted the agency;
  5. By the accomplishment of the object or purpose of the agency; or
  6. By the expiration of the period for which the agency was constituted.[1]

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Obligations of the Principal in a Contract of Agency

To be bound by obligations contracted by agent

The principal is required to comply with all the obligations which the agent may have contracted within the scope of his authority.[1] The principal cannot set up the ignorance of the agent as to circumstances whereof the principal himself was, or ought to have been, aware.[2]

Unless the principal expressly or tacitly ratifies an ultra vires act of the agent, the principal is not bound to any obligations where the agent has exceeded his powers.[3]

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Obligations of the Agent

To be liable for damages

The agent is bound by his acceptance to carry out the agency.[1] Consequently, he is liable for the damages which, through his non-performance, the principal may suffer.[2] For business that already began on the death of the principal, the agent must finish the same if delay entails any danger.[3]

Best Legal Practices:

Scope and extent of power expressly stated in written power of attorney – The agent should ensure that the scope and extent of the powers granted to him by the principal be expressly stated in the written power of attorney.

Duties and responsibilities also stipulated in written power of attorney – The agent should also ensure that the exact duties and responsibilities be stipulated in the written power of attorney.

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Right to a patent

The right to a patent belongs to the inventor, his heirs, or assigns.[1] When two or more persons have jointly made an invention, the right to a patent belongs to them jointly.[2]

First to file rule

If two or more persons have made the invention separately and independently of each other, the right to the patent belongs to the person who filed an application for such invention, or where two or more applications are filed for the same invention, to the applicant who has the earliest filing date or the earliest priority date.[3]

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