When entering into a legally enforceable insurance contract consideration must exist. Explain what consideration is and the form it takes in insurance contracts
What will be an ideal response?
Consideration is an exchange of tangible property or promise(s) in order to start an enforceable contract. Consideration in property insurance is the money exchanged (or the promise to pay) and abiding by the conditions and stipulations in the contract. In life insurance it is money exchanged and making truthful statements in the application.
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It is most likely that each consumer segment attracted to The Attic Trunk would have which of the following in common with the other consumer segments?
A) subculture B) personality C) attitudes D) self-identity E) perception
In the 1970s and 1980s, companies were obligated to consider the rights of minorities and consumers, a task that they willingly volunteered to do
Indicate whether the statement is true or false