Agreement Copy

All contracts must have an agreement. This means one party makes an offer and the other party accepts the offer.

For instance, if Julio offers to buy Juan’s car for $7,000 and Juan accepts the offer, it is considered an agreement.

In an insurance contract:

  • The offer is made by the customer when he or she fills out the insurance application.
  • The acceptance is made by the insurance company when its authorized representative agrees to provide an insurance policy to the customer.