Which of the following policy provisions specifies that, it an insured tals to pay a renewal premium within the time granted but the insurer subsequently occ may be restored? OA Grace Period OB. OC O. D. Reinatatement Time of Payment of Chirns Entire Contract
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![Which of the following policy provisions specifies that, it an insured tals to pay a renewal premium within the time granted but the insurer subsequently occ
may be restored?
OA
Grace Period
OB.
OC
O. D.
Reinatatement
Time of Payment of Chirns
Entire Contract](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F87448acc-0087-46a9-b7bd-898fae708651%2F8a2cd0ef-8a6d-48a2-9103-782cf7461acf%2Fmky97eb_processed.jpeg&w=3840&q=75)
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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 eisSkip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?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
- 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 propertyOn May 14, a prospect completes an application for insurance. The producer collects the initial proman and a conditional recept. The manos company determines that the prospect is insurable and issues a standard policy on May 26. If the producer delivers the policy to the insured on June 1, the effective date of coverage A May 14 May 24 May 26 June 1 OB ●C. 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 False
- QUESTION 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 peldA What document would a buyer use to let the seller know that they intend to proceed with the agreement of purchase and sale even though a condition precedent in the agreement has not been fulfilled? O Select one answer. A Notice of Fulfiliment An Assignment Agreement A Notice of Termination AWaiver
- 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.after a salesperson inspected a property and completed a brokerage engagement, the seller examined and signed that contract. And Georgia, if the salesperson sponsoring broker had mentioned in the salesperson written affiliation agreement that the salesperson could sign a listing agreement as the agent, because this person legally have done so? Yes, because the seller had already examined and signed the contract Yes, because the salesperson was the agent of the broker No, unless the salesperson had completed all the education courses required of a broker No, because a sponsoring broker was the sellers agentAs a member of a local Realtors® association, Broker Mel is generally obligated to place all her listings on the MLS. On one recent occasion, she did not. Evaluate the following scenarios and select the one that provides a justifiable reason for Mel's actions. Mel's client lives in a high-traffic area where a yard sign will bring in all the buyer prospects they could hope for, so an MLS listing is unnecessary. Mel's seller-client is a professional athlete who wants to keep his transaction very private and has asked that his property not be put on the MLS. Mel's client has an immaculate home that will sell easily and fast without being published on the MLS. Mel's client is on a very tight budget and is not willing to pay much in the way of commission on the sale of their home.
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