Implied actual authority - Study guides, Class notes & Summaries

Property and Casualty New York Exam Set Test Questions And Revised Correct Answers Updated & Already Passed What is a Broker? - ANSWER : A broker is someone who acts on behalf of the insured in negotiating insurance, their for a broker has no binding authority , however brokers are considered to be a collector of premiums. What is an agent (producer)? - ANSWER : An agent is a person who acts on behalf of an insurance company with whom they are contracted. Agents have binding ...

Define 'Authority' in legal terms - Answer The legal power or right given by a principal, and accepted by the agent, to act on the principal's behalf in business transactions with a third party, and is typically analyzed in terms of actual and implied authorities. What is an example of 'Actual Authority'? - Answer A seller gives the brokerage authority to offer their property for sale.

SC Personal Lines Questions and Answers Graded A+ 6 loss valuation methods actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel a person has given up a known or legal right 4 components of a legal contract agreement, consideration, competent parties, legal purpose 6 classes of insurers authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 marketing dis...

CPPB COMPREHENSIVE B EXAM 2024 WITH 100% ACCURATE SOLUTIONS What concept is based on the idea that nothing happens in a supply chain until a need is identified? A) First In First Out (FIFO) B) Last In, First Out (LIFO) C) Just in Time (JIT) D) re-Order Point - correct answer C) Just in Time (JIT) Procurement officials acting within the scope of their authority have what type of authority to legally bind the government? A) Express Authority B) Implied Authority C) Actual Authority D) Appa...

Real Estate Management Certification Exam Review || With Questions & Answers (100% Correct) Real Estate Management Certification Exam Review || With Questions & Answers (100% Correct) Which of the following describes a competent real estate professional? A) A real estate professional who agrees to provide services that they are incapable of performing B) A real estate professional who possesses the necessary ability and knowledge to perform an action proficiently C) A real estate professi...

WARRANT BOARD PREP |COMPLETE EXAM QUESTIONS AND A+ GRADED ANSWERS What kinds of things could cause you to lose your warrant ? Upon retirement, reassignment, termination or unsatisfactory performance. Must be submitted in writing. FAR 1.603-4; AFFARS MP 5301.603 Over and above work/ clause Over and above requirements task the contractor to identify needed repairs and recommend corrective action during contract performance. The contractor submits a work request to identify the over and abo...

$1,000 - Answer-The declaration of homestead in Oklahoma, filed by the head of a family by March 15, will exempt from the assessed valuation of the property the amount of 1 - Answer-How many base lines intersect each principal meridian in the rectangular survey system 12 - Answer-How many lots, each measuring 72.5 feet wide by 100 feet deep, could be made from a two-acre parcel of land? 4 - Answer-How many years are the Oklahoma Real Estate Commissioners appointed to serve? 40 - Answer-How...

Alabama Adjusters License Exam Questions and Answers | 100% Correct (Verified Answers) Latest Update 2024/2025. Accident Insurance - CORRECT ANSWERS Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal Accumulated Depreciation - CORRECT ANSWERS The total decrease in an item's value over a period of ...

LML4806 ASSIGNMENT 1 CORRECT ANSWERS SEMESTER 2 DUE DATE 25th AUGUST 2024 GUARANTEED DISTINCTION. With reference to the relevant authority/principle and the facts, advise Nancy on what Cycle for Life (Pty) Ltd must allege and prove in order to prevent Touring Africa by Bicycle (Pty) Ltd from arguing that it is not bound by the contract concluded by Nancy and James. (5) The different types of authority that a director or agent must have in order to contract on behalf of a company are: ...

Wyoming Real Estate Test 1 Questions and Answers Already Passed Agency is defined as a legal relationship in which one person acts, for and under the control of, another person: a. in a trustee capacity. b. as an independent contractor. c. in dealing with third parties. d. as a disclosed agent. c. in dealing with third parties. An agent is one who acts on behalf of a: a. buyer. b. seller. c. principal. d. broker. c. principal. "Fiduciary" most nearly means: a. trust. b. ...