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AzJose AzJose
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6 years ago
Mark owns a bar. The bar has a back room where Mark has some slot machines. Mark lets some of his patrons play the machines, and Mark keeps any profits. This type of gambling is illegal where Mark lives. Mark wanted to purchase insurance in case his slot machines were confiscated by the police. Such an insurance contract would not be enforceable. Which requirement needed to form a valid insurance contract is missing?
A) consideration
B) offer and acceptance
C) legal purpose
D) competent parties
Textbook 
Principles of Risk Management and Insurance

Principles of Risk Management and Insurance


Edition: 12th
Authors:
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ownzore3ownzore3
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AzJose Author
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#2
5 years ago
Correct and thanks!
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