Aic 301 test exam - Study guides, Class notes & Summaries
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AIC 301 4, 5, 6 Test Exam Questions Marking Scheme

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AIC 301 Test Exam Questions Marking Scheme
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AIC 301 Test Exam Questions Marking Scheme 
 
A legally enforceable agreement between two or more parties. - Answer -contract 
 
The party to a contract making a promise. - Answer -Promisor 
 
The party to a contract to whom a promise is made. - Answer -Promisee 
 
The relationship that exists between the parties to a contract. - Answer -Privity of contract 
 
A person who is not a party to a contract but who benefits from it and has a legal right to enforce the contract if it is breached by eit...
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AIC 301 4, 5, 6 Test Exam Questions Marking Scheme
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AIC 301 4, 5, 6 Test Exam Questions Marking Scheme 
 
Proximate cause - Answer -A cause that, in a natural and continuous sequence unbroken by any new and independent cause, produces an event and without which the event would not have happened. 
 
Negligence - Answer -The failure to exercise the degree of care that a reasonable person in a similar situation would exercise to avoid harming others. 
 
Tort - Answer -A wrongful act or an omission, other than a crime or a breach of contract, that in...
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AIC 301 - All the terms and definitions Test Exam Questions Marking Scheme
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AIC 301 - All the terms and definitions Test Exam Questions Marking Scheme 
 
What is a contract? - Answer -A legally enforceable agreement between two or more parties. 
 
Who is the promisor? - Answer -The party to a contract making a promise. 
 
Who is the promisee? - Answer -The party to a contract to whom a promise is made. 
 
What is privity of contract? - Answer -The relationship that exists between the parties to a contract. 
 
Who is a third-party beneficiary? - Answer -A person who is n...
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AIC 301 Exam Questions and Answers - Expanding Your Claims Perspective,AIC 301 - Test Prep Questions and correct Solutions,AIC 301 Quiz Test Study Questions and Answers,AIC Exam Questions and Correct Answers,
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AIC 301 QUIZ/TEST STUDY EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
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AIC 301 QUIZ/TEST STUDY EXAM | 
QUESTIONS & ANSWERS (VERIFIED) | 
LATEST UPDATE | GRADED A+ 
Market Share Liability 
Correct Answer: Applies when a product that has harmed a consumer cannot be traced 
to a single manufacturer. They are liable unless they can prove they could not have 
made the product involved. 
A Defense to Fraud 
Correct Answer: The defendant must make the representation with the intent to influence 
the other party's action. If the defendant did not intend to deceive, ...
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