Omission liability - Study guides, Revision notes & Summaries

Property loss exposure A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property All tangible or intangible property that is not real property. Ded...

What are the three parts of the negligence triangle? Ans: Who was injured, who is responsible, and who has the money. Perkin v. Harris - What should officers receive on foreseeable activities? Ans: Officers should receive training and information on foreseeable activities. If you act within the scope of your department policy, who will be held liable for accidents caused on your part? Ans: The department. Governmental entity definition? Ans: Any national, state or local government board...

AINS 102 (New 2023/ 2024 Update) Understanding Personal Insurance Exam Prep_ Questions and Verified Answers_ 100% Correct QUESTION Real property (realty) Answer: Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. QUESTION Reinsurance Answer: The transfer of insurance risk from one insurer to another through a contractual agreement under which one insurer (the reinsurer) agrees, in return fo...

AINS 102 LATEST UPDATE GRADED A+ Property loss exposure A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property All tangible or intangible ...

CISR - Commercial Casualty I Questions with Complete Solutions 2024/2025 Give the 2 reasons why a named Insured adds another person or organization as an addt'l Insd - Correct Answer Close or business (contractual) relationship What are the three categories of legal liability? - Correct Answer Tort, Statutory, & Contractual Tort Liability - Correct Answer a wrongful action or omission that harms a person or business, prompting the injured party to seek compensation in civil court. As a r...

vicarious liabilitya principal's liability for an agent's acts performed within the scope of the agency; specifically excluded by Colorado statute from a principal's liability unless the act or omission was approved, directed or ratified. (The employing broker is responsible to licensees actions) Sam is an associate broker who wishes to purchase investment property. What must Sam do when the property is not listed with any broker?Sam must disclose that he has a real estate license ...

Suspecting a customer is shoplifting, a security guard at a toy store takes the customer to the office to await police. Sued for wrongful detention the court awards the customer. The CGL coverage for the damages are - correct answer Covered under personal injury liability. False arrest, as well as malicious prosecution is also covered under personal injury Would Bodily injury be covered under Architects and Engineers E&O? - correct answer Architects and Engineers Errors and Omissions would ...

An acceleration clause is included in which of the following...? The mortgage Both the promissory note and mortgage The promissory note The lien - Answer The promissory note? Collateral - - Answer Marketable real or personal property which a borrower pledges as security for a loan. In mortgage transactions, specific land is the collateral. Promissory Note - - Answer Following a loan commitment from the lender, the borrower signs a note, promising to repay the loan under stipulate...

FLETC Written Exam #2 Crime - correct answer Act or omission (failure to act), prohibited by law and punishable by government Tort - correct answer A civil wrong, other than breach of contract, for which the court will provide a remedy in the form of money damages and/or injunction Common Law (State Law) Torts - correct answer Negligent Torts Intentional Torts Strict Liability Constitutional Torts - correct answer 42 U.S.C. 1983 Bivens Action 42 U.S.C. 1983 - correct answer Appli...

QUESTION 1 1.1 Discuss the relevant section of the Companies Act 71 of 2008 that appears to be a codification of the common-law Turquand rule and highlight the similarities and the differences between the provisions of that particular section and the common-law Turquand rule. (10) 1.2 David is a non-executive director and chairperson of Free State Airlines SOC Ltd, a company that operates commercial flights between Johannesburg and Bloemfontein. David is also one of the major shareholders ...