A severability provision a. rescinds the entire contract upon request of the party who drafted it. b. transfers benefits under a contract to another person. C. asks the court to delete the offending clause and enforce the rest of the contract. d. transfers the obligations of a contract to another party.
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- A director using confidential information to trade in a company's shares is MOST likely to be in breach of the director's duty:A. to act in the company's best interests.B. to act with care, skill and diligence.C. to exercise powers for a proper purpose.D. to avoid a conflict of interests.Elaine is a secretary for a business. One day a customer comes in to file a new contract while Elaine is seated at her boss’s desk. The customer assumes Elaine is a person of authority, and Elaine is knowledgeable enough to help the customer file the contract. Which response aligns best with this situation? A) Enforceable or unenforceable with agency B) MUST be enforced because Elaine is an agent C) Enforceable or unenforceable—no agencyYou are a broker. Your sales associate is new and can't remember the key differences between lien types. You remind them: Liens can be voluntary or involuntary. Voluntary liens are created with the owner's consent. A lien can only apply to one piece of property a debtor owns Because of this, liens are always specific. Legally, liens cannot be involuntary. They must be created with the owner's consent and if they're not, they're illegal All liens affect all of the debtor's property. That's why they're also called general liens.
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- Anticipatory repudiation can occur in which of the following ways? I. A statement by one party of its intent not to perform. II. An action by the promisor that rendered performance impossible. III. Knowledge by the parties that one party may be unable to perform despite both parties' efforts. IV. After a contract has been discharged. Multiple Choice II and III. I and II. I and III. III and IV. I, II, and III.If a prospect does NOT submit the initial premium with an application, the producer Su A refuse the application submit the application to the insurance company and advance the premium for the prospect from the agency account submit the application to the insurance company without the premium give the applicant a conditional receipt and send the application to the insurance company without the premium OB OC. OD29 of 75 If a buyer does not make inspections during the inspection period, the standard purchase and sale agreement automatically extends the inspection period unless the seller objects. requires the buyer to accept the property "as is." requires the seller to have the inspections performed at the buyer's expense. states that the closing date will be postponed subject to negotiation.
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