Chapter 4/Question 2: Montague’s paint shop has suffered some bad publicity as a result of a customer claiming to be suffering from skin rashes as a result of using a new brand of paint sold by Montague’s shop. The customer launched a court action against Montague in November 20X3, claiming damages of $5,000. Montague’s lawyer has

Q: Jim Nike of Rifle, Colorado, recently had his truck slide off a gravel road and strike a tree. Jim's…

A: Given information: Damages cost $16,000 The book value of the truck is $25,000 a collision insurance…

Q: out-of-pocket costs

A: Insurance refers to a process of managing risk. It is represented by a policy, in which a person…

Q: Vanessa was driving Cara's vehicle. Vanessa did not see a stop sign and broadsided a vehicle in the…

A: Auto or vehicle insurance provides financial safety from the financial losses resulting from damages…

Q: QUESTION 12 While driving Mohamed's car Sarah accidentally crashed and hit a house, the loss costs a…

A: While making payment to the insured, the insurance policy that acts as a primary has to pay first…

Q: George lost his $155,000 sales job. It took him a year to find a new job and, during that time, his…

A: Credit Report is a report showing the credit history of borrower which includes his credit score…

Q: Identify whether each of the following is an example of adverse selection or moral hazard. A. Joe…

A: When the parties involved in a transaction have asymmetric knowledge, an unfavorable selection…

Q: Jack is a policeman tasked to arrest a group of drug pushers. The drug pushers see Jack approach and…

A: Justifying Circumstances Justifying Circumstances which was described as the activities of the…

Q: Kurt has 25/50/20 auto insurance coverage. One evening he lost control of his vehicle, hitting a…

A: Let us first determine what the given numbers mean.The first number is 25 and means that Kurt will…

Q: You help run a resort that in the winter offers snow-tubing. Patrons pay to slide down a snow hill…

A: Assumption of risks: The risks involved in undertaking any action any contract signed is called the…

Q: Kyle is a South African resident, aged 36 years. He owns a bar in Bloemfontein. Due to the good…

A: Deduction for Medical Expenses The issue of out-of-pocket expenses is more complex. Medical costs…

Q: Martha Simms is the plaintiff in a contract suit she has brought against Floral Supply, Inc., for…

A: The term contract is refer to as and agreement which is made between two parties, where one party is…

Q: Suppose burglars trashed your apartment and stole your personal property. Your rent is $350 per…

A: Answer Option D. Section 1 Coverage D , 700   Explanation: Section 1 Coverage D provides protection…

Q: statements give the teacher an award not disclose or journalize the potential liability record an…

A: |• A liability whose occurrence depends upon the happening or non happening of future uncertain…

Q: Jake hired Sam to work as a janitor in Jake's apartment building, a position where Jake had a high…

A: Respondeat Superior seems to be a common-law doctrine that holds an employer accountable for an…

Q: Owen, a sole proprietor, owns a bicycle messenger business in New York City. One of his messengers,…

A: Ans: None of these- all are valid justification for a judgement against Owen

Q: . proves that Danson was negligent and legally liable.

A: Contracting refers to the building agreement between two or more persons or parties who is legally…

Q: While driving Mohamed's car Sarah accidentally crashed and hit a house, the loss costs a total of…

A: The insurance policy of Individual M acts as the primary liability which makes the insurance policy…

Q: Evan enters into a contract with Right Construction Ltd. for the construction of a wine cellar. The…

A: Explanation : The principle of privity of contracts is a legal principle that generally holds that…

Q: Ricky signed a contract to sell his slightly-used Suzuki Vitara Golf for $15,000 to an old friend…

A: Contract means where two parties agree to do something for another party in discharge of the…

Q: Charles and his two friends were driving back from a football game in the snow and crashed into an…

A: The 25 in 25/50/10 refers to $25,000 and is the maximum amount that the insurer will pay out for…

Q: Which of the following is Katie's best option?

A: Case settlement is the situation when one party files court case against another party for the…

Q: for the following damages:  other driver, $25,000; passenger 1, $20,000; passenger 2, $9,000; other…

A: There are different types of auto insurance and depending on each plan there are different types of…

Q: A fire destroys M’s computer That has  a replacement value $3,500 and Actual cash value of $2000.…

A: Replacement value is the amount of money that is required to replace whatever is damaged or…

Q: Nadine visits Urban Air, a trampoline park. Before Nadine can enter the trampoline park, Urban Air…

A: This is a Multiple Choice Question in which we have to select the correct option

Q: Hammer regularly took his car to be serviced at his local garage, Vanilla Ice Limited. On several…

A: Given: Hammer regularly took his car to be serviced at his local garage, Vanilla Ice Limited. On…

Q: Emeril borrowed $75,000 from Bignasty Bank to expand his restaurant business and cooking show on the…

A: The bank's operations mainly include accepting deposits from the customer and extending loan to the…

Q: Michael has split - limit coverage equal to 50/100/25 on his vehicle. Yesterday, Michael rear ended…

A: The objective of the question is to determine how much Michael's insurance company will pay him from…

Q: Mike purchased a Personal Auto Policy that included Part D (coverage for damage to your auto). He…

A: The accidental coverage of Mike’s car is being assessed under part D for the damage.

Q: ? ership of the insurance policy to Jake before accepting his request to surrender the pol d true…

A: Surrendering the policy refers to the concept of ending or terminating a policy before its maturity…

Q: Rose Collins insured her pizza shop with an $80,000 fire insurance policy at a $.98 annual rate per…

A: Fire insurance: It can be defined as an insurance contract that is made against the damage/loss by…

Q: Question 5 (Chapter 7) Connor's house burns down in a wildfire. The wildfire was a…

A: GIVEN   Connor's house burns down in a wildfire. The wildfire was a federally-declared disaster. The…

Q: Mel complains about a shabby t-shirt that was delivered to him by an online trader upon his…

A: The act of purchasing and selling financial products over the Internet is known as online trading.…

Q: Zachary Lee has a personal automobile policy (PAP) with coverage of $25,000/$50,000 for bodily…

A: Bodily injury liability is a liability that occurs when you are at fault in a car accident, medical…

Q: Imagine you are a deciding Judge for the following scenario. Decide who should win the case…

A: The term “insurance” can be defined as the financial security provided by the insurer to the insured…

Q: Leigh sued an overzealous bill collector and received the following settlement: Damage to her…

A: 1. Damage to the automobile the collector attempted to repossess = $3,300This is compensatory damage…

Q: Paul's car alid off the loy road, causing $2.000 in damage to his car. He was also treated for minor…

A: Answer:- Out of pocket cost meaning:- An out of pocket costs is a one time payment of cash  that may…

Q: 2 Brad has 100/300 BI liability insurance. He loses control of his car and injures 22 children in a…

A: In many countries several insurance company given insurance coverage on the basis of 15/25 , 100/300…

Q: Emeril borrowed $75,000 from Bignasty Bank to expand his restaurant business and cooking show on the…

A: The bank's operations mainly include accepting deposits from the customer and extending loan to the…

Q: Bill recently had his truck slide off a gravel road and strike a tree. Bill's vehicle suffered…

A: Collision insurance is an added extension of an automobile insurance policy that reimburses the…

Q: While driving Mohamed's car Sarah accidentally crashed and hit a house, the loss costs a total of…

A: The insurance policy of Individual M acts as the primary policy which makes the insurance policy of…

Q: Ichabod Crane, on behalf of his law firm, Crane Law, LLC, contracted with TOAD, a local radio…

A: The answer to based case study is given below :

Q: Larry owed Rusty a $3,000 debt that is past due. In a telephone conversation, Kathy orally promised…

A: There are laws governing the financial transactions and these must be written only and any oral…

Q: Magnum, a well-known private investigator, has a very unhappy client, C, who does not like her…

A: As per the laws the entire receipts from winning the case must be charged to income tax