All of the following are elements of a valid contract except...

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All of the following are elements of a valid contract, except

A. Offer and acceptance

B. Capacity to pay premiums

C. Consideration

D. Capacity of the parties

Answer: Option B

Solution (By Examveda Team)

All of the following are elements of a valid contract, except Capacity to pay premiums. It is calculated as the total value of all claims paid by the company divided by the total amount of premium collected in a financial year.

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All of the following are elements of a valid contract, except

Solution (By Examveda Team)

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