A contract of insurance against damage to property is a contract of indemnity, often described as a contract to hold someone harmless.
Those principles are highlighted in this recent court of appeal judgment.
The court said that a lay person may think that that involves “…a promise by the insurer to pay money representing
The parties concluded a written sale of land agreement for unimproved erven purchased with the aim of subdividing and developing them into residential erven but an immediate subdivision was required because one erf extended into an adjacent development. The agreement was void because the parties had not agreed on the exact property sold because of
In the event that the insured property is totally lost or destroyed the amount
payable shall be the cost of removing the damaged property (limited to the