A condition is a stipulation which is a Question 10Answer a. not essential to the main purpose of contract of sale, b. collateral to the main purpose of contract of sale c. none of the above. d. essential to the main purpose of contract of sale Clear my choice
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- How is an offer accepted? Describe the rules for the manner of acceptance and its communiArthur recently selected a broker to sell his house. Arthur and the broker are now in the process of finalizing the listing agreement. How should Arthur determine how much he should pay the broker as a commission? O The commission must be set to 6% of the sales price as dictated by FREC O The commission must be between 3-6% of the sales price as per NAR guidelines. ○ Arthur must negotiate with the broker until both parties agree to a commission. O A listing broker is not entitled to a commission.Loan interest income ► S.15(1)(i) 。 sums, not otherwise chargeable to tax under this Part (i.e. not chargeable under s.14), received by or accrued to a financial institution by way of interest which arises through or from the carrying on by the financial institution of its business in Hong Kong, notwithstanding that the moneys in respect of which the interest is received or accrues are made available outside Hong Kong 。 Contrast to s.14: arising in or derived from HK What does "arises through or from" mean? Loan interest income is deemed taxable even though the loan is made available outside Hong Kong? 74
- 5 in order for a conditional receipt to be issued, the applicant must A take a medical examination B sign the application and pay the initial premium C name a beneficiary D elect a settlement optionUnder the UCC, a firm offer only applies to Group of answer choices merchants. merchants and nonmerchants. nonmerchants. option contracts.4.1. Discuss two (2) types of contracts. (10)4.2. Elaborate on the advantages and disadvantages on contracts on behalf of manufacturers
- 23. All of the following actions by an agent may be considered misrepresentations Except O a. Illustrating the dividends on an insurance policy b. describing a policy as a share stock c. describing insurance coverage ambiguously d. overstating an insurance company's surplus #DIEthical dilemma problem 1: Joni is a financial planner for ABC firm. She provided all of her clients with the same products. She felt this was OK since she had thoroughly researched them years ago and found them to be excellent. By concentrating her recommendations with a few firms, she was able to receive commission bonuses. She never discussed their goals and characteristics with her clients unless they brought them up. Explain her violations of SEC and CFP regulations. Indicate what should be done.1.What is risk management information system? Identify its benefits. 2.Explain the legal distinction between an agent and a broker.
- 10Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusalpls help ASAP