A condition precedent to an insurance contract is the
-
A.
extent of the cover granted -
B.
right to cancel the insurance contract -
C.
right to take possession of damaged property -
D.
existence of the subject matter of insurance
Correct Answer: Option D
Explanation
Contract Subject matter of insurance is the life, limbs, property, rights or any potential legal liability insured under a policy.Subject matter of contract is the insured’s financial interest in the subject matter of insurance.