Which of the following policy provisions specifies that, if an insured fails to pay a renewal premium within the time granted but the insurer subsequently ace may be restored? OA Grace Period Reinstatement OC Time of Payment of Cairns OD. Entire Contract OB. 00
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![Which of the following policy provisions specifies that, if an insured fails to pay a renewal premium within the time granted but the insurer subsequently ace
may be restored?
OA
Grace Period
Reinstatement
OC Time of Payment of Cairns
OD.
Entire Contract
OB.
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- The following situations generally require a contract to be in writing: • sales of land • purchases of goods over $500 • promises made in consideration of marriage ⚫ contracts that cannot be completed in less than one year • a contract in which one person promises to pay the debt of another person This legal concept is known as offer and acceptance promissory estoppel the statute of frauds et lux perpetua luceat eisQuestion 3 Buyer and seller enter into a clear contract. The buyer refuses to purchase for a reason not excused by a contingency. Which statement is correct? A - The seller is entitled to damages the buyer caused, which are taken from either the earnest money deposit or the 20% down payment. B - The original buyer gets the earnest money deposit back as soon as there is a new offer. C - The seller has the right to terminate the contract and keep the earnest money deposit. D - The seller has the right to keep 20% of the down payment on property.Which of the following remedies may be provided for in a contract? Question 6Answer a. liquidated damages, deposits, down payments b. rescission, specific performance, injunction c. all of the above d. none of the above
- Question 2 Which of the following is a true statement? A. As a general rule, if the Statute of Frauds requires a contract to be evidenced by a writing an oral contract will be unenforceable. B. The âpart performanceâ exception to the Statute of Frauds may permit an oral contract for the sale of land to be enforced merely if part of the purchase price is paid. C. A mortgage represents an interest in personal property and thus can be oral. D. A contract for lifetime employment must be in writing to be enforceable since usually if will be for a long time. Question 4 Which of the following is true regarding Title VII of the federal Civil Rights Act in the workplace? a. The plaintiff employee must always prove a malicious, wrongful intent to discriminate on the part of the defendant employer against the employee to prevail in a Title VII civil rights lawsuit. b. Only “big” employers with 2000 or more employees are covered by the federal Title…Your insured lives in an apartment but takes a temporary position in another city and must store some me for fur ture items in a storage ware apartment is sublet to a friend. Subsequently, the warehouse is broken into and some of your Insured's furniture is stolen. What Would a Tenant © A) The actual cash value or replacement cost of the property stolen less the policy deductible, subject to the 10% limitation on property temporanlite O B Nothing. The loss is not covered © C The actual cash value or replacement cost of all the personal property stolen, less the policy deductble, subject to the polis limit © D That proportion of the loss which the value of the property at the warehouse bears to the total value of all of his her personal propertyIf 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. OD
- Question 13 A party contracts to guaranty the collection of the debts of another. As a result of the guaranty, the creditor, upon debtor's default, can immediately proceed against the guarantor without further notice. True False Question 14 Hudson National Bank files a financing statement regarding a transaction with EcoVibes. To be valid, the financing statement must contain both the debtor's and creditor's signatures. True False Question 15 The Truth-In-Lending Act applies to all merchants that sell consumer goods. True FalseQUESTION 1 Which of the following is a FALSE statement? A. The E-Sign Act completely prevents the use of electronic signatures for contracting on the Internet. B. If an employer wants to preserve the at-will employment status of his or her employees, the employer should insert disclaimers in its codes and handbooks that nothing therein can be construed to create an express or implied employment contract. C. A basic principle of the National Labor Relations Act is that employers cannot terminate employees in order to discourage or encourage union membership. D. “Going public” by a company offering to sell shares of stock to the public typically results in access to broader financial markets from which to obtain capital. QUESTION 2 1. The tort of assault and the tort of battery are: A. Two names for the exact same tort. B. Strict liability torts. C. Independent torts which can occur separately from one another. D. Require proof of each of the separate elements of negligence.…An insured who owns a Disability Income policy forgot to pay the premium due on July 1. If the insured tiles a disability daim on July 31, the insurance company will O A. deny the claim O B. O C. O D. pay the claim but deduct the unpaid premium reinstate the policy and then pay the dam cancel the policy and return all premiums peld
- The Time of Payment of Claims provision requires that an insurance company pay Disability Income benelit, no less frequently than A annually OB semiannually quarterly OD monthly C.Roland, a self-employed stenographer who files a Schedule C, uses a room in his home exclusively for preparing depositions, producing documents, and negotiating contracts with clients. The room is not used for any other purpose. Since the room in Roland's home is a separately identifiable space and is used only for his business, it meets which requirement and may qualify for a home office deduction under the general rule? A) Office Equipment Requirement B) Exclusive Use Requirement C) Regular Use Requirement D) Principal Place of Business RequirementAuthors: Henry R.Cheeseman, University ofSouthern California .jpg”> BAM 521 Business Law Text: Contemporary Business and Online Commerce Law Sixth Edition, 2009 ISBN: 10: 0-13-601500-X Publisher: Pearson Prentice Hall ———- a..jpg”> Business Law Multiple Choice Questions(Enter your answers on the enclosed answer sheet) 1) What was the U.S. Supreme Court’s reaction to a case where a business executive was found guilty of aiding and abetting in the bribery of an Internal Revenue Service Agent even though the Internal Revenue Service agent had been found not guilty of the bribery in a separate trial? b. Because one of the defendants had been found guilty, then both should have been fou nd gu i Ity. c. Because of the inconsistent outcomes, a third combined trial was ordered to reconcile the different outcomes. d. This simply underscores the fact that there is always the possibility that dif- ferent juries might reach different results in a…
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