Caib 3 - Study guides, Class notes & Summaries

CAIB 3 Practice Exam questions with correct answers

CAIB 3 - Exam Practice Questions with 100% correct answers Breach of Contract - answerFailure to perform a promise in a contract without legal excuse Trespass - answerUnlawful interference with someone's person, property, or rights False Imprisonment - answerUnlawfully holding someone against their will Easement - answerRight to use another person's land Constructive Total Loss (MARINE INSURANCE) - answerWhen the cost of salvaging cargo is too high compared to its value Freight (MARINE I...

CAIB 3 Practice Exam Questions With Verified & Correct Answers 2024|2025 What is the name given to the collection of written decisions? Correct Answer: Case Law Explain the concept of the Rule of Precedent. Correct Answer: Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". Correct Answer: Compens...

CAIB 3 Exam Questions with All Correct Answers Civil Law - Answer-the body of law concerned with civil or private rights and remedies, as contrasted with criminal law which deals with wrongs against society. Tort - Answer-a private or civil wrong or injury, other than breach of contract, for which the court will provide a remedy in the form of an award for damages. Breach of Contract - Answer-is the failure, without legal excuse to perform any promise which forms the whole or part of t...

What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage suffered. Compensatory damages for bodily injury are ...

QUESTIONS AND ANSWERS

CAIB 3 Chapter 3 Questions and Answers Rated A+ Identify, other than in Quebec two different systems used to insure automobiles in Canada 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles SPF No 1. Owners Form SPF No 4. Standard garage automobile policy SPF No 6. Standard non-owned automobile policy Briefly explain what is meant by standard policy forms Policy forms developed by the ...