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The Insurance Contract - A Support In The Business Sphere

Author

Listed:
  • Catalin Cristian Selisteanu

    (Faculty of Law, University of Craiova,)

Abstract

The Romanian Civil Code regulates, in the IXth Title (Various special contracts) of Book V (About obligations), a wealth of contracts, in a greater number than the old civil legislator (sale and purchase, exchange, lease, society, transport, warehouse, insurance, loan etc.), but the subject of this article makes me move towards the assurance contract. The insurance activity materializes as a contract by which, according to the Romanian Civil Code, the policyholder or the insured is obliged to pay a premium to the insurer, and the latter undertakes, if the insured case occurs, to pay an allowance, where necessary, to the insured, the insurance beneficiary or the injured third party. The insurance contract is commonly used in business because operators are subject to numerous risks and, for the safety and future of their business, for this activity to have as much life span as possible, they must ensure all goods and persons representing " the engine" of their business, as well as the licit/illicit nexpected events. The insurance area is a business, and more than that: it can support a business.

Suggested Citation

  • Catalin Cristian Selisteanu, 2016. "The Insurance Contract - A Support In The Business Sphere," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 5(1), pages 161-169, November.
    • Handle: RePEc:sja:journl:v:5:y:2016:i:1:p:161-169
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    More about this item

    Keywords

    insurance contract; business; market economy; commerce; trader.;
    All these keywords.

    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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