Liability which would not rest upon a person except that he has accepted responsibility by contract, expressed or implied. This is also known as contractual liability.
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DECLARATIONS (DEC SHEET)
A term used in insurance for the portion of the contract which contains information such as the name and address of the Insured, the property Insured, its location and description, the policy period, the amount of insurance coverage, applicable premiums, and supplemental representations by the Insured, the types of coverage you have elected; the limit for each coverage; the cost for each coverage; the specified vehicles covered by the policy; the types of coverage for each vehicle covered by the policy; and other information applicable to the policy.