exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
Search result
Cardinal Obligations
Cardinal obligations are essential obligations of a contract that must be fulfilled in order to achieve the specified contractual objective. This also includes secondary obligations, the violation of which can lead to a contractual objective not being achieved.
Example: A typical cardinal obligation of a software developer is that she must deliver the object of the contract (the software) free of material and legal defects. If a third party owns copyrights to the software sold or licensed (or parts thereof), this software is not free from legal defects. The software developer has thus violated a cardinal obligation and can generally be made liable for the resulting damage according to the law of obligations.
Term: Cardinal Obligations
If you can’t find a term, please don’t hesitate to contact us. We will answer your question and add it to the glossary.
You can find more tips and information about your business, insurance and real claims in our News & Stories.