What type of contract allows little negotiation and is presented on a "take-it-or-leave-it" basis?

A contract characterized by limited negotiation and presented on a "take-it-or-leave-it" basis is known as a contract of adhesion. In these types of contracts, one party, typically the insurer, drafts the terms, and the other party, typically the insured, must accept the contract as it is without the capacity to negotiate its terms. This is often seen in standard insurance policies where the terms are fixed and non-negotiable, aimed at simplifying the process for both parties involved.

In the context of insurance, the elements of a contract of adhesion illustrate the imbalance of bargaining power, where the stronger party dictates the terms. This principle protects the insured by requiring courts to interpret any ambiguities in the contract in favor of the insured, acknowledging their lack of agency in negotiating terms.

The other types of contracts listed do not share these characteristics. A conditional contract involves obligations that depend on a specific event occurring. Unilateral contracts are those where only one party makes a promise that the other party accepts through action rather than further agreement. Personal contracts are those that are inherently tied to the individual and typically cannot be transferred without consent, which does not relate to the "take-it-or-leave-it" nature.