Which of the Following Insurance Contracts Is Enforceable

question 17

Multiple Choice

Which of the following insurance contracts is enforceable?

• A) An insurance policy taken out on a minor by an adult
• B) A life insurance contract in which the insured misrepresents his or her health or age
• C) An insurance contract where only one party to a contract has the capacity to contract
• D) A contract whose warranty is breached by the insured

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Definitions:

Firm Offer

An irrevocable offer made in a commercial context that remains open for a specified period of time, often used in the sale of goods.

UCC

Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing all commercial transactions in the United States.

Electrical Portion

The part of a system or device that pertains to or operates through the use of electricity.

Lowest Bid

The least amount of money offered by a contractor to complete a specified project or job in a bidding process.