Formation of an Insurance Contract
WOODS V CO-OP INSURANCE SOCIETY (1924)
Contractual intention and insurance
A newspaper offered free insurance against fire, accident and sickness to it's registered subscribers but stated that whist the scheme had the backing and support of the proprietors it did not involve contractual liability. Held that there was no contract of insurance.
Insurance contracts, as commercial transactions, are almost invariably intended by the parties to be legally binding.