What does Declaratory Judgment mean? Read on to discover the definition & meaning of the term Declaratory Judgment - to help you better understand the language used in insurance policies.
A special kind of judgment where a court declares the rights and obligations of parties to a written agreement. Where the parties to an insurance policy disagree as to the meaning of a policy term, either of them may file an action to obtain a declaratory judgment from a court as to what the policy term means.
We hope the you have a better understanding of the meaning of Declaratory Judgment.