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no-action clause

noun
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no-ac·​tion clause

Legal Definition of no-action clause

: a clause in an insurance contract providing that the insurer does not have to pay unless and until a judgment against the insured is obtained

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NMI

no-action clause

no-action letter

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Cite this Entry

“No-action clause.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/no-action%20clause. Accessed 1 Oct. 2022.

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