Exam (elaborations)
Legal Concepts of the Insurance Contract | Questions and Answers (A+ Solution guide)
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Elements of the contract - agreement, consideration, competent parties, legal purpose Aleatory - an exchange of unequal amounts or values (premium paid<amount paid by insurer if loss) Adhesion - contract prepared by insurer; accepted or rejected by insured "take-it-or-leave-it" Unilateral - o...
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