The Essential Elements of a Contract Are a Valid Offer

question 12

Short Answer

The essential elements of a contract are a valid offer, acceptance, mental intent to make a contract, and _____.

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Definitions:

Whole-life Insurance

Whole-life Insurance is a type of permanent life insurance policy that remains in effect for the insured's whole life and includes an investment component known as the cash value.

Long-term Bonds

Bonds with maturities typically longer than 10 years, offering the potential for higher yields but also greater price volatility and interest rate risk.

Tax-loss Selling

The practice of selling securities at a loss to offset a capital gains tax liability.

Capital Losses

The loss incurred when a capital asset is sold for less than its original purchase price.