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This question belongs to Commerce Insurance

Insurance

?

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 & Solution

Correct Answer: Option B

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.

Question posted by Examveda

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