Ask Question
24 August, 15:04

Which of the following best describes the consideration on the part of an insurer?

A. The purpose of the contract must be legalB. The promise to pay in the event of a covered claimC. The offer of the contractD. The acceptance of the contract

+2
Answers (1)
  1. 24 August, 17:45
    0
    B) The promise to pay in the event of a covered claim

    Explanation:

    The promise to pay in the happening of a covered claim apparently describes the promise to pay in the process of covered claim. In insurance matter of contracts, the insurer assures to pay for covered losses which the insured suffers and the insured promises to do what the contract says and pay the premium. Most non insurance contracts are fluctuating contracts. The amount of attention given by both parties are almost equivalent.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following best describes the consideration on the part of an insurer? A. The purpose of the contract must be legalB. The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers