General Insurance PrinciplesQuestion 184 of 315
All of the following are required elements of a valid contract EXCEPT:
a.Offer and acceptance
b.Written signatures of two witnesses
c.Consideration
d.Legal purpose
Explanation
California Civil Code §1550 requires offer/acceptance, consideration, competent parties, and a lawful object. Witness signatures are not required for an insurance contract to be valid.
Law Reference: Cal. Civ. Code §1550Practice all 315 questions free — no signup required.
Related questions on this topic
- An applicant for life insurance has uncontrolled high blood pressure. This condition is BEST classified as which type of hazard?
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- What does the applicant offer as consideration when applying for a life insurance policy?
- Which characteristic of an insurance contract means that only the insurer makes a legally enforceable promise?
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Sen Lin, PrepPass Founder · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)