FSE 2930 Professional review business law exam with complete solutions
4 views 0 purchase
Course
FSE 2930
Institution
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...
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tuition. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.