Assumption clause - Study guides, Class notes & Summaries

What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage suffered. Compensatory damages for bodily injury are ...

Summary *2024* LPC Commercial Law & Intellectual Property (CLIP) – BPP Distinction Level Notes & Step-by-Step Exam Solutions What is the difference between unilateral and a bilateral contract? Bilateral - parties assume obligation to each other. Unilateral - 1 party makes an offer for an act to be performed by other party/parties. Relevant statute to put in answer Sale of goods in a B2B context (governed by SGA 1979 and UCTA 1977) -SGSA 1982 For contract terms and exemptions questions T...

New York Life Insurance Questions and Answers Already Passed Accelerated Benefits Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance An insurance policy that provides payment if the insured's death is the result of an acc...

REAE 3325 CH 8 & 9 Exam Questions and Answers 100% CorrectREAE 3325 CH 8 & 9 Exam Questions and Answers 100% CorrectREAE 3325 CH 8 & 9 Exam Questions and Answers 100% CorrectREAE 3325 CH 8 & 9 Exam Questions and Answers 100% Correct The element of an adjustable interest rate that is the "moving part" is the: Teaser rate Index Margin Adjustment period None of these - ANSWER-Index A lender may reserve the right to require prepayment of a loan at any time they see fit through a: Tak...

Wisconsin Accident and Health Insurance Exam Questions and Answers 100% Pass Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds Shareholders Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred annuity Life insurance Which of the following outlines the authority given to the producer on behalf of the insurer? R...

NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...

The premium & the protection remain constant for the term of the policy. correct answers A level term policy is one where.... B. Single premium. correct answers Which policy will have immediate cash? A. Decreasing term B. Single premium C. 10-pay life D. 30-pay life 1 year after the annuity is purchased. correct answers An immediate annuity with quarterly payments will begin making payments when... Estoppel correct answers The legal doctrine that prevents one from exercising a rig...

Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds Shareholders Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred annuity Life insurance Which of the following outlines the authority given to the producer on behalf of the insurer? Rebating arrangement Commingling contract Controlled business clause Producer contrac...

LA Claims Adjuster Property and Causality Practice Exam 1 Questions and Answers 100% Pass Insurable Interest - Answer- ______in the property and would suffer a financial loss if the property were damaged by an insured peril, their family members (names need not be listed in the policy), and others such as a lien holder, for example, the bank that holds the mortgage on a house. Cause of Loss Forms - Answer- ____establish and define the causes of loss (or perils) for which coverage is provi...

Property and Casualty Insurance Licensing Exam Questions & Revised Correct Answers. Guarantee Pass!! To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - ANSWER : An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects - ANSWER : B) upset of the vehicle The maximum amount of payable for all losses resulting from one event is kn...