Ann and her agent meet to discuss automobile insurance. The agent completes an application for coverage, takes Ann’s check for $200, and mails the application to the insurance company. Two weeks later Ann receives the policy in the mail. When did the consideration take place?

Insurance

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Ann and her agent meet to discuss automobile insurance. The agent completes an application for coverage, takes Ann’s check for $200, and mails the application to the insurance company. Two weeks later Ann receives the policy in the mail. When did the consideration take place?

A) When the company mailed the application.

B) When Ann wrote the premium check.

C) When the agent submitted the application.

D) When the agent quoted the premium.

Answer: B

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