This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Contract Law

Body of law that governs the performance of a promise. An enforceable contract must have the following four characteristics: competent parties, agreement or assent, legal consideration (exchange of values), and legal purpose.

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Welcome To the Alliance!

The National Alliance for Insurance Education & Research is now the Risk & Insurance Education Alliance, or simply “The Alliance”.  For more details, please read our Press Release.