Pennsylvania Life and Health Insurance Exam Practice Question
For a contract to be valid it MUST
Correct Answer: C
Rationale: A valid contract requires an offer and acceptance, establishing mutual agreement between parties. This foundational element ensures that all parties understand their obligations and intentions.
Option A, notarization, is not a universal requirement; many contracts are valid without a notary. Option B, while some contracts must be in writing (like real estate agreements), not all contracts require this formality. Option D, the need for a witness, is also not a blanket requirement for contract validity. Thus, while options A, B, and D may apply in specific contexts, they do not represent the essential components necessary for all valid contracts.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now