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This course explains the basics of the law of contracts for a person in business. The student will understand that a contract is a legally binding, valid agreement between two or more parties. The course explains the elements needed to prove and establish a contract and how those elements are proved. 

The course covers the following:

  1. What is a contract?
  2. What constitutes an offer?
  3. What constitutes an acceptance of an offer?
  4. What is consideration?
  5. What are conditions?
  6. What are limitations?
  7. What are warranties?
  8. What is a breach?
  9. How are contracts interpreted?

Learning Objectives

  • Explore the elements of a contract sufficient to read and interpret any contract.
  • Explore how contracts are formed.
  • Explore the components of a contract.
  • Identify the elements of a contract.
  • Identify the effect of conditions.
  • Establish that when a contract is breached.
  • Identify the facts needed to prove a breach.

Included In Certifications

This course is included in the following Expert Certifications:

16 CoursesCertified Expert in Corporate Property Insurance

  1. Introduction: Excellence in Claims Handling
  2. How to Acquire a First-Party Property Insurance Policy
  3. How to Read and Understand an Insurance Policy
  4. The Necessity of an Honest and Complete Insurance Application
  5. The Law of Contracts for the Insurance Professional
  6. Ethics for the Insurance Professional
  7. What is the Problem with Fraud?
  8. Interviewing Techniques for the Insurance Professional
  9. Investigation of a First-Party Property Insurance Claim
  10. The Creation of a Scope, Statement, and Proof of Loss
  11. The Duties of an Insured Presenting a First-Party Property Claim
  12. The Insurance Examination under Oath (EUO)
  13. Insurance Fraud Prevention
  14. Compliance with Special Investigation Unit Regulations
  15. Compliance with Good Faith Settlement Practices Regulations
  16. The Obligations of a Public Insurance Adjuster

15 CoursesCertified Expert in Corporate Liability Insurance

  1. Corporate Liability Insurance: Excellence in Claims Handling
  2. How to Acquire a Policy of Third Party Liability Insurance
  3. How to Read and Understand a Liability Insurance Policy
  4. The Necessity For An Honest And Complete Application For Insurance
  5. The Law of Contracts for the Insurance Professional
  6. The Law of Torts
  7. Ethics for the Corporate Liability Insurance Professional
  8. The Covenant of Good Faith and Fair Dealing
  9. Interviewing Techniques For The Corporate Liability Insurance Professional
  10. Corporate Liability Insurance Fraud Prevention
  11. Corporate Liability Insurance: Rescission - An Equitable Remedy
  12. The Duties Of An Insured Presenting A Third Party Bodily Injury and Property Damage Claim
  13. The Statement And the Investigation of Third Party Liability Insurance Claim
  14. Compliance with Good Faith Settlement Practices Regulations
  15. Corporate Liability Insurance: Millions For Defense Not A Dime For Tribute

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 ext. 106, or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  10:20Introduction to The Law of Contracts for the Insurance Professional
  11:21Legality of the Contract and Conditions
  9:35More Conditions
  11:13How are Contracts Interpreted by Courts?
  11:07How are Contracts Inerpreted by Courts? (Continued)
  11:00Breach of Contract
CONTINUOUS PLAY
  1:04:28The Law of Contracts for the Insurance Professional
SUPPORTING MATERIALS
  PDFSlides: The Law of Contracts for the Insurance Professional
  PDFThe Law of Contracts for the Insurance Professional Glossary
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM