An Agreement That Contemplates the Performance of an Act Prohibited

question 32

True/False

An agreement that contemplates the performance of an act prohibited by law is usually void.

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Definitions:

Insurance Policy

A contract between an individual or entity and an insurance company, specifying the terms for the payment of claims in the event of a covered loss.

Expected Wealth

The predicted amount of money or assets that an individual or entity anticipates owning over a given period.

Property Loss

Financial loss incurred due to damage, destruction, or theft of property.

Adverse Selection

A situation in which sellers have information that buyers do not have, or vice versa, affecting the quality of goods or services offered.