A recent Teamsters Union convention was held at Disney World

All of the following conditions must be met to form a binding property insurance contract EXCEPT:

(a) contract must be in writing (b) exchange of consideration (c) competent parties (d) offer and acceptance

Money market securities include Treasury bills, commercial paper, federal funds, repurchase agreements, negotiable certificates of deposit, banker's acceptances, and Eurodollars

Indicate whether the statement is true or false