A contract of insurance is an agreement by which the insurer is bound to pay money or its equivalent or to do some act of value to the insured upon, and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the other party has an interest.
N.C. Gen. Stat. § 58-1-10
Contract of insurance
Known as the Insurance Law
The act spans §§ 58-1-1–58-1-5 (6 sections).
Applied in 5 court decisions — leading case 134 N.C. App. 22 - In Re a Declaratory Ruling by the North Carolina Commissioner of Insurance Regarding 11 N.C.A.C. 12.0319 (1999)
Most recently applied in 193 N.C. App. 694 - Sprinkle v. LILLY INDUSTRIES, INC. (November 2008)
1899, c. 54, s. 2; Rev., s. 4679; C.S., s. 6262; 1945, c. 383.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.