An implied contract is an - Study guides, Class notes & Summaries

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

Well-structured PVL3702 Assignment 2 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). .... Question 1 Answer saved Marked out of 1.00 Flag question Question text Gary points a loaded gun at Pete, and orders him to sign a written contract. Gary explains that the document is for the sale of Pete’s car to him (Gary), at a price of R50 000 which is far below the market value of the car. Pete, fearing for his life, signs the document. Which cause of ...

Actual vs Apparent Authority - Actual Authority - Given by the principal to the agent; can be express or implied; oral or written. Apparent Authority - When a third party reasonably assumes one is acting as an agent to another. Agency by Operation of Law - Sometimes, an agent is unable to reach the principal and has to make a rational decision quickly. This would be legally acceptable. An example would be an agent who is forced to buy $500 worth of plywood to cover a principal's home duri...

LEGL 2700 Roessing Exam 2 Questions and Answers Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer ️️ Tangible (touchable), movable personal property Bilateral Contract - Answer ️️ Promise in exchange for a promise Involves promisor ...

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2025 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...

Kindly note that the cover page states that it is assignment 4 buit it is assignment 3. QUESTION 1 1.1 Study the diagram below and complete the table below by inserting the relevant party/parties in the employment relationship (Column A) that matches the roles and responsibilities as outlined in Column B. (5) Column A: Parties in the tripartite employment relationship Column B: Roles and responsibilities 1.1.1 A legal entity or person that controls and directs the labour of persons using...

ARKANSAS LIFE INSURANCE EXAM QUESTIONS AND ANSWERS J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - ANS Twisting What is implied authority defined as? - ANS Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall into what risk classification? - ANS ...

contract - correct answer -a legally enforceable promise or an exchange of promises Uniform Commercial Code (UCC) - correct answer --covers the sale of goods -goods are tangible, movable items of personal property -applies to individuals & firms -uniform state law -Article 2: applies to contracts -Section 207: "Battle of Forms" -> Deal still goes through bilateral contracts - correct answer --involve a promise for promise exchange ( mutual promises) -acceptance is before acti...

CMIT Exam (200 multiple choice) Questions with Verified Answers A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - CORRECT ANSWER True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which of the following do not apply to both CM forms? A) Both forms provide advice to the owner on constructibility, budget and the schedule....