CPCU 530 Test questions & Answers
True
-If the jurisdiction of the federal courts is based on diversity of citizenship, the subject matter of the dispute may be which state's law applies
Judical Branch
-is charged with deciding if another branch of government has the power to enact a new ...
CPCU 530 Test questions & Answers
True - answer -If the jurisdiction of the federal courts is based on diversity of
citizenship, the subject matter of the dispute may be which state's law applies
Judical Branch - answer -is charged with deciding if another branch of government
has the power to enact a new law
Complaint - answer -This must include a requested remedy
Rulemaking function of administrative agencys - answer -A public hearing is required
if request by a government agency or 25 interested individuals
Investigative Function of administrative agencys - answer -receive the power to use
subpoenas from legislation
Contracts - answer these may be illegal for the following reasons:
---are contray to constitutional law
---are contrary to statutory law
---are contrary to case law
---are against public law
---contrary to tort law is not a thing
Exculpatory Clause - answer -These are typically unenforceable when the
complaining party has a bargaining disadvantage
Frustration of purpose - answer -occurs when an unforeseen event undermines a
party's principal purpose for entering into a contract, and both parties knew of this
principal purpose at the time the contract was made
Anticipatory breach - answer -this only applies to bi-lateral contracts
nonbreaching party - answer -a minor breach of contract may temporarily suspend a
duty of performance for these people
True - answer -One type of consideration is a binding promise
-a promise is not a binding promise if you may not actually ask the person to perform
something
-I promise to hire you if I buy the bed and breakfast
Incontestable clause - answer -if they breach this within the two years then the
insurer may deny coverage but will be required to refund the premiums
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