Which contract element is insurable interest a component of?

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Which contract element is insurable interest a component of?

A) Competent parties
B) Offer and acceptance
C) Consideration
D) Legal Purpose

Answer: D) Legal purpose

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The pro rata liability clause is designed to protect the principle of
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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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When the principal gives the agent authority in writing, it's referred to as
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All of the following are true regarding rebates EXCEPT
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