Contract Voiding

Concealment
Concealment refers to the intentional withholding or secreting of information. In the context of insurance, if the insured withholds information on a material fact about which the insurance company has no knowledge, the company has grounds to void the contract.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.