For an insurance contract to be binding, consideration in the form of a premium must be given.
Correct Answer:
Verified
Q5: An insurance agent ordinarily works for the
Q6: A business organization cannot obtain insurance on
Q7: Under a multiple insurance clause, a homeowner
Q8: If s broker fails to procure a
Q9: A person who obtains insurance from an
Q11: The existence of an insurable interest is
Q12: For property insurance, the insurable interest must
Q13: State law determines the status of all
Q14: A person can insure anything in which
Q15: A broker is an agent of an
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents