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Answer: Facts: In the present case, Pacey had entered into an agreement with Shark Underwriters where the parties have agreed that in return of a premium paid by Pacey, Shark Underwriters will provide policy benefits in cases of any loss/damage accruing to Pacey’s Cadilac motor vehicles. The premium was decided to be annually renewable. The terms of the agreement clearly lay down that the premium for the policy will be deducted mo...Read More
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