Which distinct legal characteristic of insurance contracts states that only the insurer's promise to perform is legally enforceable?

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Insurance contracts are considered unilateral contracts because only the insurer's promise to perform is legally enforceable. The insured is not required to perform any obligation unless specifically stated in the contract. This means that the insurer is legally bound to pay claims if the insured suffers a covered loss, but the insured is not bound to continue paying premiums if they decide to cancel the policy.

Which Distinct Legal Characteristic of Insurance Contracts States That Only