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AIC 301 Exam Test Prep Questions With 100% Correct And Verified Answers
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AIC 301 Exam Test Prep Questions With 100% Correct And Verified Answers
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AIC 301 Exam Test Prep Questions With100% Correct And Verified Answers
Which one of the following statements
correctly expresses a distinction between
waiver and estoppel?
A. Only waiver prevents an insurer from
reviving a defense it has forfeited earlier.
B. The parol evidence rule applies to
estoppel, but not to waiver.
C. Estoppel is contractual in nature, but
waiver is equitable in nature.
D. Estoppel requires resulting injury or
detriment by the party asserting it. - Correct
Answer-D. Estoppel requires resulting injury
or detriment by the party asserting it.
Allison sued George for breach of contract
and the term "contractual consideration" was
at issue. In court, the term would be given its
Select one:
A. Legal meaning.
B. Technical meaning.
C. Dictionary definition.
D. Common usage meaning. - Correct Answer-
A. Legal meaning.
Paul and Jerry were both six years old when
they entered a neighbor's home and used
baseball bats to smash and break household
Vendarsol
, items. When establishing liability for Paul's
and Jerry's actions, the court will most likely
primarily consider
Select one:
A. Their vicarious liability as children.
B. It as a mass tort action.
C. It to be liability by conspiracy.
D. The tortfeasors' capacity. - Correct Answer-
D. The tortfeasors' capacity.
Andrew promised Katy he would roof her
house on October 30. On October 15, Andrew
told Katy he could not find the correct
shingles and stated he was probably going to
be too busy to do the job. Andrew has
Select one:
A. Not repudiated the contract.
B. Rescinded the contract.
C. Breached the contract.
D. Voided the contract. - Correct Answer-A.
Not repudiated the contract.
The City of Denbar contracts with Water
Company to maintain adequate water
pressure in its fire hydrants. Bob's home in
Denbar catches fire and cannot be saved due
to inadequate water pressure. What rights
does Bob have under Denbar's contract with
Water Company?
Select one:
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