Avis 5,0 (1) Which of the following is NOT an essential element of an insurance contract? A) Agreement B) Legal Purpose C) Counteroffer D) Consideration. Counteroffer.
What are the essential elements of an insurance contract?
In general, an insurance contract must meet four conditions in order to be legally valid: it must be for a legal purpose; the parties must have a legal capacity to contract; there must be evidence of a meeting of minds between the insurer and the insured; and there must be a payment or consideration.
Which is not considered to be an element of an insurance contract?
Which of these is NOT considered to be an element of an insurance contract? The elements of an insurance contract do not include negotiating.
What are the 4 parts of an insurance contract?
Which of the following is NOT an essential element of an insurance contract? In order for insurance contracts to be legally binding, they must have four essential elements: agreement (offer and acceptance), consideration, competent parties, and legal purpose. Counteroffer is not required.