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hi everyone and welcome to my video on insurance contracts I am Rebecca your insurance lady and in this video Im gonna go over what is needed in order to have a legal binding contract between the insured and the insurer the elements of a contract and the doctrine of adhesion so for this video my goal is to help you to understand insurance contracts a little better so lets get started so I found this definition of a contract in the business dictionary online and I feel like it gives the best explanation so what is a contract a voluntary deliberate and legally binding agreement between two or more parties so basically an insurance contract is an agreement right thats a contract there are different ways to agree with another party you can agree in writing you can verbally agree which makes the agreement and spoken and an agreement can be implied an implied agreement is a contract based on an assumption and it sounds funny but an implied agreement or contract can be a legal binding cont