Contract of adhesion

{
  "id": "MLC-T-INS-000946",
  "term": "Contract of adhesion",
  "field": "Insurance and risk management",
  "definition": "A standardized contract, such as an insurance policy, prepared by one party (the insurer) and offered to the other party (the insured) on a 'take it or leave it' basis, with little or no opportunity for negotiation. Courts often interpret any ambiguities in these contracts in favor of the party who did not draft the agreement. This principle protects consumers from potentially unfair terms.",
  "url": "https://mlchart.com/terminology/insurance/contract-of-adhesion/"
}