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Massachusetts Insurance Agent Exam Answered with 100% Correct Answers
- Exam (elaborations) • 5 pages • 2024
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What are the two components of an agreement? - Ans: Offer and acceptance. 
 
Elements of a legal contract - Ans: 1. Agreement 2. Consideration 3. Competent Parties 4. Legal Purpose 
 
Property and Liability Policy - Ans: Owned by the policy owner. It is a personal contract. 
 
Who is not considered to have legal capacity? - Ans: 1. Minors 2. Insane Persons 3. Individuals Under the Influence 4. Person Coerced 5. Enemy Aliens 6. Convict 
 
Unilateral - Ans: An act in exchange for a promise or a pr...
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