By estoppel - Study guides, Class notes & Summaries

If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. $30,000 Which of the following statements best describes an inland marine policy? Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deductible. What will you pay? $1000 This department...

This person hires an agent The Principal The agent works on behalf of this person the client (principal) This type of agency allows for the greatest range of authority Universal This is provided to the agent when there is written documentation that the agency relationship exists. Express authority This is the most limited of all the agency relationships Special agency This type of agency is created when a 3rd party believes that an agent has authority that has NOT been granted by a princi...

MRL2601 PORTFOLIO MEMO - MAY/JUNE 2023 - SEMESTER 1 - UNISA - (DETAILED ANSWERS - DISTINCTION GUARANTEED!) QUESTION 1 1.1 With reference to relevant legislation and case law, explain the legal consequences of the recognition of a company’s separate legal personality. (10) 1.2 Name the different types of companies that are provided for in the Companies Act 71 of 2008. (5) 1.3 Vela is a shareholder of Impala Ltd. The next annual general meeting will be held on 13 November 2023. Unfo...

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking only covere...

MGMT 311- Honors Exam 2 Questions with Answers Power of Attorney - Answer-special or general - gives an agent express authority (is the best evidence of express authority) - example: signing spouses name - general: lots of power - special: specific Implied Authority - Answer-is reasonably necessary to carry out express authority, and can be conferred by custom or inferred from the agent's position - details that go along with the written contract Apparent Authority - Answer-Authori...

4. All of the above Correct Answer-EXAM QUESTION: What are the sources of contract law? 1. UCC 2. Common law 3. State statutory law 4. All of the above D. All of the above Correct Answer-EXAM QUESTION: Adam asks Monica to paint his living room by Sunday. This situation may give rise to a(n): A) bilateral contract B) unilateral contract C) express contract D) all of the above contract Correct Answer-A __________ is a legally enforceable promise. promise Correct Answer-A _______...

John assigned his right to receive a deed from Trudy to Hannah. Contracts assigning deeds are unenforceable. John is relieved from making payment to Trudy. Hannah will be entitled to the deed. John is an assignee. Correct Answer-Hannah will be entitled to the deed. Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because ...

MRL2601 MAY/JUNE 2023 EXAM ANSWERS QUESTION 1 1.1 May/June 2023 With reference to relevant legislation and case law, explain the legal consequences of the recognition of a company’s separate legal personality. (10) 1.2 Name the different types of companies that are provided for in the Companies Act 71 of 2008. (5) 1.3 Vela is a shareholder of Impala Ltd. The next annual general meeting will be held on 13 November 2023. Unfortunately, at the time he wil...

LEGL 2700 Final Exam UGA (Hackleman) Questions and Answers | Latest Version | 2024/2025 | Graded A+ What is specific performance as a remedy? Specific performance is a court order requiring a party to fulfill the terms of a contract rather than paying damages. What does subrogation mean in insurance law? Subrogation allows an insurer to pursue a third party responsible for causing a loss after compensating the insured. What is due process in administrative law? Due process i...

Estoppel - ANSWER one promises to do something and another relies on that promise and is harmed by them not following through Encroachment - ANSWER illegal intrusion or trespass into or over the property of another. such as a wall or fence Nuisance - ANSWER Interferes with quiet enjoyment and is an encroachment. Private nuisance= small area and can take court action Public Nuisance = large area and takes city action