Aic 301 2024 exam - Study guides, Class notes & Summaries

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...

How would you describe misrepresentation in the context of insurance contracts? Answer- In normal usage, a misrepresentation is a false statement. In insurance, a misrepresentation is a false statement of a material fact on which the insurer relies - Why are insurance policies nontransferable contracts? - Answer-Insurance policies are nontransferable because the insurer has the right to select those applicants with whom it is willing to enter into contractual agreements. If such a t...

AIC 301 - final exam prep questions and answers With complete solution Newest 2024/25 RATED A+

AIC 301 - FINAL EXAM PREP QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - CORRECT ANSWER A. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from a public road. One evening, a police officer ch...

AIC 301 Study Guide Exam With Correct Questions And Answers 2024

The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - CORRECT ANSWER A. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from a public road. One evening, a police officer c...

AIC 301 Final Exam With Correct Questions And Answers 2024