Damages sustained - Study guides, Class notes & Summaries

a. provide the nonbreaching party with money damages equal to the losses actually sustained. correct answers The purpose of compensatory damages is to: a. provide the nonbreaching party with money damages equal to the losses actually sustained. b. punish the breaching party severely enough to ensure such behavior is unlikely to occur again. c. provide the breaching party with a way to mitigate damages. mand the breaching party c. must perform under the contract within a reasonable time. ...

business law Collin College -Business Law Flashcards fully solvedAdministrative Agencies - correct answer commissions or boards that have the power to regulate particular matters or implement laws Antitrust Laws - correct answer laws designed to prevent an individual, corporation, or other group from controlling too large a share of the market for a product Balloon Payment - correct answer payment more than twice the normal installment payments Bearer - correct answer payee of the instr...

In Illinois, when must the seller be given a copy of the accepted listing agreement? A. when the listing information is confirmed B. after the listing is published and entered in the multiple-isting service C. within 24 hours of signing D. 48 hours after the broker has approved and signed the listing - Answer Within 24 hours of signing The purpose of the Real Estate Recovery Fund in Illinois is to A. allow an aggrieved party to recover damages sustained as a resultol any rea...

Loan Signing Notary Study Guide | Questions with 100% Correct Answers | Latest Update 2024 | Verified What is a notary public? - A notary public is an official appointed by the county or state after his/her documents and examination results indicate his/her suitability for the job. A notary public has power to: - Administer an oath and affirmations and take depositions and affidavits; Certify copies of power of attorney; Issue protest bills in cases of non-payment or non-acceptance of fo...

New York USAA Exam Review Questions and Answers 100% CorrectNew York USAA Exam Review Questions and Answers 100% CorrectNew York USAA Exam Review Questions and Answers 100% CorrectNew York USAA Exam Review Questions and Answers 100% Correct Watercraft liability, medical expenses and uninsured boaters are coverages provided under which of the following policies? I. Watercraft. II. Homeowners. III. Mariners. - ANSWER-I only is correct. Explanation: Watercraft policies are designed to...

CAIB 3: [COMMERCIAL LIABILITY - A LEGAL PERSPECTIVE] EXAM CAIB 3: [COMMERCIAL LIABILITY - A LEGAL PERSPECTIVE] EXAM WITH ACCURATE ANSWERS|VERIFIED Define Civil Law - Accurate AnswerThe body of law concerned with civil or private rights and remedies. Also referred to as Private Law. Define Tort - Accurate AnswerA private or civil wrong or injury, other than breach of contract, for which the court will provide a remedy in the form of an action for damages. Define Breach of Contract - ...

AINS 21 Glossary | 286 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ loss exposure - any condition or situation that presents the possibility of a loss law of large numbers - a mathematical principle stating that as the number of similar but independent exposure units increases, the relative accuracy of predictions about future outcomes (losses) based on these exposure units also increases exposure unit - a measure of the loss exposure assumed by the insurer, used in...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

Frustration of purpose - A court-created doctrine under which a party to a contract will be relieved of his or her duty to perform when the objective purpose for performance no longer exists (due to reasons beyond that party's control). Based on Bluto's conduct, Cass reasonably believes that Dee has the authority to act on Bluto's behalf even though Dee does not have the actual authority to do so. Cass makes a payment to Dee for Bluto. Dee keeps the money and disappears. Bluto - must be ...

Dr. Dan accidentally left a scalpel in Paul Patient during Paul's operation, causing Paul much pain and necessitating additional surgery. Paul's lawyer will most likely use the special doctrine of ____________when he sues Dr. Dan for negligence. Negligence per se Res ipsa loquitur Superseding cause Contributory negligence - ️️Res ipsa loquitur What is the primary purpose of tort law? Punish wrongdoers Compensate victims for their losses Support society by fining wrongdoers C...