2. Fill in the blanks with the words that best complete the passage. n insurance policy must meet all the common law requirements for a contract There must be an offer, acceptance, and duress . The owner must have 3, that is, he must be an adult of sound mind. Fraud, meting of the minds and undue Satute of Umitations invalidate a policy. In theory nsurance contracts need not be in witing because the confict of interest 3does not apply to any contract that can be performed within one year