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

A funeral prearrangement life insurance agent must be supervised - Correct Answer-By a legal reserve life insurance agent whose company holds a seller's permit. The maximum initial guaranteed death benefit that a funeral prearrangement life insurance agent may sell is - Correct Answer-$15,000 A funeral prearrangement life insurance agent license expires when the agent - Correct Answer-Fails to submit a biannual renewal application and fee When an application for an insurance agent license...

BUL 4421 Final - FAU Gendler Exam Questions With Complete Solutions CHAPTER 13: Introduction to Contracts - answerCHAPTER 13: Introduction to Contracts Four Elements of a Contract: CLAC - answer1. Contractual Capacity 2. Legal Object 3. Agreement (offer, acceptance) 4. Consideration Contract - answer-A promise or set of legally enforceable promises for the breach of which the law gives a remedy or the performance of which the law in some way recognizes a duty. Agreement - answer(Offer &...

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!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...

Question 1 Not yet answered Marked out of 1.00 Flag question Question text When Toyota's suppliers do not have adequate capacity to meet purchase requirements when demand increases substantially, it is referred to as: a. Triage approach b. Overaggressive supply reduction c. Supplier dependency d. Absence of competition Clear my choice Question 2 Not yet answered Marked out of 1.00 Flag question Question text _____ allows a buying organisation to react more qui...

Quasi-Contract - A contract this is implied by law and a way for courts to correct or remedy a situation and to prevent unjust enrichment. Void for Vagueness - 1. An incomplete and uncertain contract based on vague terms --- which may be void 2. If a determination is not reached, the courts may void the contract or severe the terms. Statue of Frauds Includes: - - Contracts that cannot be performed in one year - Contracts for the sale of real estate, real property, or land. - Contracts ...

Bail Bonds Louisiana Exam With 100% Correct Answers 2023 Acquit - Correct Answer-to set free:to judicially discharge from an acquisition;to clear (a person) of a criminal charge Bail Enforcement - Correct Answer-the apprehension or surrender of a principal by a natural person who is released on bail or who has failed to appear at and state of the proceedings to answer to the charge before the court, in which he may be prosecuted obligor - Correct Answer-the party who owes the duty or debt...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

A contract may be based on a promise not to do something. (T/F) - True You return a lost dog to its owner. You did not know a reward was being offered for the dog. You do not have a legal right to the reward. (T/F) - True You leave your poodle at a new grooming shop and tell them to wash the dog⎯a $30 service. They do that and also paint the poodle's nails and tie ribbons in his hair⎯these services are an extra $10. You pay them for the wash. What about the extra $10 in services? a....

Indemnity - ANSWER-a payment for damages or loss Risk - ANSWER-Uncertainty or chance of loss occurring Pure Risk - ANSWER-Presents the chance of loss with no opportunity for gain Speculative Risk - ANSWER-Presents the chance of loss with an opportunity to gain (Like Gambling) Exposure - ANSWER-a unit of measurement used to determine rates charged for insurance coverages. Hazards - ANSWER-Conditions or situations that increase the probability of an insured loss occurring. Peril ...

Contract - An agreement between tow or more parties that is legally enforceable. Differ state-to-state by law Not every promise can be enforced legally, but a set of promises confirmed in a contract entitles the party that is injured by a breach of that contract to force the other party to honor the contract through government intervention Express Contract - The terms are understood by written or oral words. Each instance of the terms is agreed upon Implied Contract - Where the contract i...