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LESSON 2: LEGAL CONCEPTS OF THE INSURANCE CONTRACT

The following subjects are contained within Lesson 2:

Description: HandshakeElements of the Contract - Offer and Acceptance; Consideration; Legal Purpose; Competent Parties

Special Features of the Insurance Contract - Aleatory Contracts; Contract of Adhesion; Unilateral Contracts; Valued Contracts; Indemnity Contracts; Insurable Interest (Love and Affection, Blood Relationships, Economic Interests)

Agents and Brokers - The Role of the Agent; Principles of Agency Law; Agent Authority (Express, Implied, and Apparent); Fiduciary Responsibilities

Other Legal Concepts - Waiver; Estoppel; Parol Evidence Rule; Void and Voidable Contracts; Fraud

Lesson Review - Key Concepts; Quiz


The information contained in Lesson 2 can be found in
Unit 3 of the Florida study manual.