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FSE 2930 Professional review business law exam with complete solutions $10.99   Add to cart

Exam (elaborations)

FSE 2930 Professional review business law exam with complete solutions

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  • Course
  • FSE 2930
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  • FSE 2930

co-insurance A clause in an insurance policy under which the insured agrees to maintain insurance equal to some specified percentage of the property value or otherwise to assume a portion of any loss any time prior to acceptance When may an offer be revoked Previous Play Next R...

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  • September 4, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • FSE 2930
  • FSE 2930
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FSE 2930 Professional review business
law exam with complete solutions




co-insurance - ANSWER- A clause in an insurance policy under which the insured
agrees to maintain insurance equal to some specified percentage of the property
value or otherwise to assume a portion of any loss

any time prior to acceptance - ANSWER- When may an offer be revoked

Voidable, minor can cancel it - ANSWER- If an adult makes a contract with a
minor for necessaries, what is the status of the contract?

past consideration, illusory promises] - ANSWER- What are 3 invalid reasons for
consideration of a contract?

Duress - ANSWER- obtaining consent by means of a threat

Undue Influence - ANSWER- A contract to loan money at a higher rate of interest
than the law allows

novation - ANSWER- The process of terminating a contract and substituting a
new one with the same terms but a new party

Assignment - ANSWER- Conveyance of rights in a contract to a person not a
party to the contract

deductible clause - ANSWER- Insurance policy provision that makes the insurer
liable only for losses in excess of the stated deductible

assignor - ANSWER- the person making an assignment

assignee - ANSWER- the person to whom a right or liability is legally transferred

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