Mark Owns a Bar

question 51

Multiple Choice

Mark owns a bar.The bar has a back room where Mark has some slot machines.Mark lets some of his patrons play the machines,and Mark keeps any profits.This type of gambling is illegal where Mark lives.Mark wanted to purchase insurance in case his slot machines were confiscated by the police.Such an insurance contract would not be enforceable.Which requirement needed to form a valid insurance contract is missing?

• A)consideration
• B)offer and acceptance
• C)legal purpose
• D)competent parties

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Definitions:

Visionary Leadership

Visionary leadership brings to the situation a clear sense of the future and an understanding of how to get there.

Organisational Structures

The system of tasks, workflows, reporting relationships, and communication channels that link the diverse parts of an organization.

Core Principle

A fundamental belief or guideline that serves as the foundation for a system, program, or organization's operation.

Visionary Leadership

Involves leading an organization towards a unique and inspiring vision of the future, often characterized by innovation and risk-taking.