Abandonment of contract - Study guides, Class notes & Summaries

Oklahoma Property and Casualty Latest Update Graded A+ Representations Statements made by the applicant on an insurance application. Contract of Utmost Good Faith An insurer must rely o the truthfulness and integrity of the applicant. Contract of Adhesion When one party constructs the contract and the other party has no input. Elements of a Legally Binding Contract 1. Legal Purpose 2. Agreement (Offer and Acceptance) 3. Competent Parties 4. Consideration Special Peril Ty...

Property & Casualty (Arkansas) Abandonment Condition - correct answer States that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - correct answer Imposed by law on those participating in certain activities that are considered especially hazardous; a person involved in such matters may be considered liable even if they weren't negligent. Accident - correct answer A loss that occurs at a specific time and place ...

Utah Stringham Real Estate Vocab Latest Version Rated A+ 3/1 ARM A loan with three years of the same rate then rate adjustments every year thereafter. 12 HOUR NEW AGENT COURSE The continuing education course required by the Utah Division of Real Estate for a new licensee's initial renewal period. 72-HOUR RIGHT OF RESCESSION All borrowers must receive this notice if the loan is a refinance loan. ABANDONMENT When a tenant leaves a property before the expiration of the lease agr...

Abandonment - Answer-The failure to occupy and use property that may result in loss of rights Abatement of Nuisance - Answer-Extinction or termination of a nuisance Abstract of Judgement - Answer-A condensation of the essential provisions of a court judgement Abstract of Title - Answer-A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record which ...

Florida Claims Adjuster Exam Questions And Answers Property insurance policies usually contain a(n) __________ clause, stating the insured cannot dump damaged property on the insurer and demand its full value: A. Pro Rata B. Abandonment C. Liberalization D. All of the above B. Abandonment A(n) __________ is one wherein economic loss would be suffered from an adverse happening to the subject: A. Conditional Contract B. Personal Contract C. Economic Contract D. Insurable Interest D...

NJ Title Insurance 2024 Real Verified Exam Abandonment - CORRECT ANSWER-when someone with legal possession of property leaves without intention of reclaiming rights abstract of title - CORRECT ANSWER-A summary of the title history including all encumbrances. Acceleration clause - CORRECT ANSWER-Mortgage clause demanding full payment upon default accretion - CORRECT ANSWER-New land added by the elements, such as a river delta Accrued Depreciation - CORRECT ANSWER-Total of all deterio...

Abandonment - Answer the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - Answer Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - Answer an unplanned, unforseen event which occurs suddenly and at a specific place Actual Cash Val...

NCCT NCMA EXAM WITH GUARANTEED ACCURATE ANSWERS c - ACCURATE ANSWERRight and wrong conduct is known as _______. a. empathy b. criminal law c. ethics d. licensure a - ACCURATE ANSWERThe most common type of medical tort liability is ________. a. negligence b. breach of contract c. breach of confidence d. fraud and deceit c - ACCURATE ANSWERA person being sued is called the ________. a. plaintiff b. tort c. defendant d. criminal law d - ACCURATE ANSWERThe withdrawal of...

Florida Claims Adjuster Exam Questions and Answers Graded A Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - Answer- D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is ma...