Agreement Copy

Lesson Progress:

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.