Terms in this set (10)
spouses in each other, parents and their children, creditors and their debtors all have ______ ______.
Insurance is a method risk of transferred to an insurer for consideration up to a _____ ______.
statements made on the application, premium, and the promise to pay if a loss occurs are all _______.
Adhesion and unilateral have one common element.
To start operations, a mutual company must have a minimum number of producers with agency contracts signed (T/F)
The possibility that the painting you purchased might be a long lost masterpiece would be considered what kind of risk?
an oral or written statement which is false
The principle that two parties must be between two individuals considered legally able to enter an agreement.
this represents the obligations of the insured and insurer.
living a healthy lifestyle is an example of which risk management technique?
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