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This question belongs to Commerce Insurance

Insurance

?

Which of the following statements is correct?

A) The policy document has to be signed by a competent authority, but need not be compulsorily stamped according to the Indian Stamp Act B) The policy document has to be signed by a competent authority and should be stamped according to the Indian Stamp Act C) The policy document need not be signed by a competent authority, but should be stamped according to the Indian Stamp Act D) The policy document neither needs to be signed by a competent authority nor it needs to be compulsorily stamped according to the Indian Stamp Act

Answer & Solution

Correct Answer: Option B

According to the Indian Stamp Act, the policy document has to be signed by a competent authority as well as stamped. Hence, option (2) is correct.

Question posted by Examveda

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