Which of the following statements about consideration in an insurance contract is (are) true? I....

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Finance

Which of the following statements about consideration in an insurance contract is (are) true? I. The insured's total consideration is submission of a completed application. II. The insurer's consideration is the promise to do those things specified in the policy.

Question 65 options:

1)

I only

2)

II only

3)

both I and II

4)

neither I nor II

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