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AIC 301 Quiz/Test Study Questions And Answers 100% Verified 2024/2025
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AIC 301 Quiz/Test Study Questions And Answers 100% Verified 2024/2025
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AIC 301 Quiz/Test StudyMarket Share Liability - ANSApplies when a product that has harmed a purchaser cannot be
traced to a unmarried manufacturer. They are responsible unless they can prove they couldn't
have made the product involved.
A Defense to Fraud - ANSThe defendant must make the illustration with the intent to steer the
opposite celebration's movement. If the defendant did now not intend to misinform, there may
be no evidence of fraud.
Community Property - ANSUnder the community belongings concept kinds of property can
belong to a spouse - separate belongings as well as network property. Separate assets is the
respective spouse's sole assets and it's miles free from the alternative spouse's hobby or
manipulate.
Parole Evidence Rule (PER) - ANSThe parole evidence rule presents that oral proof of
agreements previous or accompanying a written coverage policy cannot be used to prove a
waiver. Thus, the agent's oral statements made at this time could not be admitted into proof and
consequently could be ineffective as a waiver.
A provision that prevents the phrases of a agreement from being changed through evidence of
oral or different agreements after the settlement has been written.
Defenses to Tort Fraud - ANSThe declaration changed into not fake
The announcement did now not relate to a cloth truth
The defendant did now not understand the declaration turned into false
The defendant did now not intend to mislead
The plaintiff did now not depend on the statements
The plaintiff suffered no harm or or loss because of counting on the statement
A Constructive Eviction - ANSActions or inactions of a landlord that create conditions that
prevent a tenant from taking part in a tremendous or critical part of the basis represent a
optimistic eviction.
Repudiation of a Contract - ANSrepudiation of a agreement is the refusal to fulfill obligations
underneath the contract, however it ought to be superb and unequivocal to constitute a breach.
A announcement of lack of ability to perform inside the future isn't always repudiation. A
character cannot sue for breach of contract until due date and man or woman has failed to
complete the activity.
Frustration of Purpose - ANSA rental settlement is vain to someone for the reason that original
purpose for the condo changed into annoyed because the celeb became no longer there.
, Frustration of motive can discharge a agreement that is viable to carry out, whilst a supervening
event destroys the advise or price of the settlement, provided that each events are aware of that
reason or fee.
Direct Action Statutes
Garnishment - ANSThird events are usually not allowed to sue insurers of negligent parties who
injure them or harm their property. Some states have enacted direct action statutes allowing 1/3
birthday celebration sue insurer immediately or both insurer and insured/culprit/tortfeasor
immediately
If insured denies declare bills after judgement, a few states permit 1/3 celebration to sue the
insurer directly in a statutory action referred to as garnishment.
Consequential Damages - ANSThe lack of the access charge cash is an example of
consequential damages. Consequential damages are provided by means of courtroom to
indemnify injured events for losses that result circuitously from a wrong, including a breach of
agreement as in this example.
Enterprise/Industry-Wide Liability
Alternative Liability
Market Share Liability
Concert of Action
Conspiracy - ANSEach producer held accountable based totally on its marketplace proportion
moving burden of proof to every of several defendants whilst uncertain who precipitated the
harm; every have to show either they did no longer cause harm or someone else did
much like alternative legal responsibility wherein once may be responsible for damages of an
entire industry, plaintiff should sue all producers; defendant no longer responsible for complete
quantity but handiest their pro rata proportion
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