Contracts that are prepared by one party and submitted to the other party on a "take it or leave it" basis are classified as

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Contracts that are prepared by one party and submitted to the other party on a "take it or leave it" basis are classified as

a. Binding contracts.
b. Contracts of adhesion.
c. Unilateral contracts.
d. Aleatory contracts.

Answer: (B)

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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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