Compensatory damages - Study guides, Class notes & Summaries

AIC 301 Exam Questions With All 100% Correct Answers What are the elements of a legally binding contract? - Answer -To be legally binding, contracts must: • Contain an agreement between all parties • Involve parties with the legal capacity to contract • Contain mutual assent • Involve consideration • Have a legal purpose • Be in the form prescribed by law What are the similarities and differences between bilateral and unilateral contracts? - Answer -In bilateral con...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered bec...

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...

Susie set fire to her house to collect the insurance. This is an example of a(n) - MORAL HAZARDS Henry's tires on his SUV are so worn that the steel belt is showing through the tread. The condition of the tires is known as - PHYSICAL HAZARDS When a driver of an auto breaks the posted speed limit, the driver's liability imposed by the law is known as - ABOSLUTE LIABILITY Under compensatory damages, medical expenses are an example of - SPECIAL damages. Josh attends a hockey game. While at ...

AIC 301 2024 Exam Questions and Answers All Correct .What are the elements of a legally binding contract? - Answer-To be legally binding, contracts must: • Contain an agreement between all parties • Involve parties with the legal capacity to contract • Contain mutual assent • Involve consideration • Have a legal purpose • Be in the form prescribed by law What are the similarities and differences between bilateral and unilateral contracts? - Answer-In bilateral cont...

What are 4 major loss exposures covered by CGL Form? LO1 1. Premises Liability (slip and fall due to water on the floor) 2. Operations Liability (Tree trimmer causes damage to power lines by removing fallen limbs) 3. Product Liability (ladder collapses when being used as intended) 4. Completed Operations A contractor installs a hot water heater and leaves the home, 2 days later, water overflows onto the floor causing damage because the hot water heater was improperly installed. ...

FLORIDA 2-20 STATE EXAM PRACTICE | 145 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS 100% CORRECT | UPDATE 2024

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...

Texas Jurisprudence Exam questions and answers latest top score. Can a patient successfully sue a doctor if there is no physician-patient relationship? - correct answers.No If there is no prior physician-patient relationship, are you legally obliged to respond to a call from a patient for treatment? - correct answers.No Does being on call give rise to a physician-patient relationship? - correct answers.No How can one terminate a physician-patient relationship,...

T/F You may be charged with a crime simply for serving a guest who appears to be intoxicated. - Correct Answer True T/F It is illegal to serve alcohol to a pregnant woman. - Correct Answer False T/F Dram shop laws protect the server from being sued in the event that an intoxicated guest injures another individual. - Correct Answer False T/F The state liquor authority can suspend an establishment's liquor license for allowing a minor to enter the establishment with a fake ID. - Correct ...