Exam term

Consideration · Insurance

The thing of value each side gives up to form the contract; for the applicant it is the premium and the statements made, and for the insurer it is the promise to pay benefits.

Lessons that use this term

Elements and special characteristics of an insurance contract California
Core contract provisions: entire contract, insuring clause, free look, consideration, owner's rights Florida
Insurance contract law and its unique characteristics Florida
Insurance contract law and insurable interest Florida
Insurance contract law and its unique characteristics New York
Core contract provisions: entire contract, insuring clause, free look, consideration, owner's rights New York
Other provisions I: insuring clause, free look, consideration, probationary and elimination periods New York
Insurance contract law and its unique characteristics Texas
Insurance contract law and insurable interest Texas