Offer And Acceptance

Offer and acceptance is a part of any contract. This is essential - you must have an offer made to you and you must accept it to have a contract.

To place insurance on a car or home you will need to have an application with the broker or agent to set up the terms of the contract. Certain declarations are required and once you have agreed upon these conditions you are given an offer. You accept the conditions and terms by signing the application and accepting the offer. You now have a contract.