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Contract Uberrimae fides literally means contract of the utmost good faith.
These are contracts excepting the common law principles of caveat emptor.
Both parties are legally bound to disclose material facts about the transaction.
Failure to disclose a material fact renders the contract voidable at the option of the
innocent party. Examples include:
(i) Contract of insurance.
(ii) Partnership agreement.
maurice.mutuku answered the question on May 1, 2018 at 13:58
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