Implied terms commercial - Study guides, Revision notes & Summaries

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

contract -Correct Answer a legally enforceable promise or an exchange of promises Uniform Commercial Code (UCC) -Correct Answer -covers the sale of goods -goods are tangible, movable items of personal property -applies to individuals & firms -uniform state law -Article 2: applies to contracts -Section 207: "Battle of Forms" -> Deal still goes through bilateral contracts -Correct Answer -involve a promise for promise exchange ( mutual promises) -acceptance is before action ...

Property And Casualty Insurance Exam Q&A Part One. Terms like: Which of the following are the authorities that an agent can hold? - Answer: Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing, or eye sight? - Answer: Permanent partial disability Who is NOT considered an employee in a commercial general liability (CGL) policy? - Answer: Temporary worker The major portion of the premium of an equipment breakdown policy pays? - Answe...

CMIT Exam (200 multiple choice) Questions with Verified Answers A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - CORRECT ANSWER True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which of the following do not apply to both CM forms? A) Both forms provide advice to the owner on constructibility, budget and the schedule....

Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer -B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Re...

Don enters into a contract with Eve, who claims to have access to a stock-trading algorithm that will multiply an investment many times over. When the results do not match this promise, Don learns that Eve does not have access to any unique software and files a suit, alleging fraud. Proof of an injury is required to - A; recover damages. A major-league baseball team based on the North side of Chicago is in the playoffs and doing well. Behind the left-field wall there is an apartment buildin...

Which of the following are the authorities that an agent can hold? - correct answer Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - correct answer Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? - correct answer Temporary worker The major portion of the premium of an equipment breakdown policy pays? - correct answer For inspections and examinations ...

Which of the following are the authorities that an agent can hold? - ANSWER-Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - ANSWER-Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? - ANSWER-Temporary worker The major portion of the premium of an equipment breakdown policy pays? - ANSWER-For inspections and examinations An insured owns a building val...

contract - Answer ️️ a legally enforceable promise or an exchange of promises Uniform Commercial Code - Answer ️️ most important example of state-based legislation impacting contract law goods - Answer ️️ tangible, movable items of personal property bilateral contract - Answer ️️ an agreement containing mutual promises unilateral contract - Answer ️️ an agreement with only one promise, and only one party is committed to perform; seeks an action rather than a promise in ...

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...