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Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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OA Insuring Agreements
OB
OD.
Declarations
Conditions
Exclusions
the"
Transcribed Image Text:The named insured is listed in which of the following sections of a property polle
OA Insuring Agreements
OB
OD.
Declarations
Conditions
Exclusions
the
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- The purpose of the Insuring clause in an Accident and Health policy is to: O A specify the schedule and method of premium payments specify the conditions under which benefits are payable indicate the responsibilities of the insured after a covered loss satisfy the requirements of the uniform policy provision code OB. O C SOD.arrow_forwardXavier purchased a condominium unit at Atmos Towers in January 2018 for P 3,000,000. In the agreement, Xavier will pay a 20% downpayment and thereafter pay a monthly installment fee of P 65,000 for 60 months. In June 2020, or after paying 29 monthly installments, Xavier failed to pay his obligations because his fast-food business went bankrupt due to the pandemic. (a) What are the rights of Xavier under the Maceda Law? (b) In the above case, how much is the cash surrender value that must be returned to Xavier in case he fails to pay after the grace period?arrow_forwardMartha sells goods to James for $25,000. Martha assigns her right to receive the $25,000 to XYZ Finance James refuses to pay XYZ the $25,000. James makes two arguments for not paying. First James claims that XYZ has no privity of contract and that XYZ is not a third-party beneficiary of its contract with Martha. Second – James claims that the goods were worthless. Assume that the goods were worthless. You are the judge. Who wins and why? Address both arguments that James makes.arrow_forward
- 9arrow_forwardQUESTION 5 The ACCC wrote a media release which made the following claim: "To use Calvary medical facilities, a medical practitioner enters into a contract with Calvary granting them rights to use Calvary medical facilities. In March 2011, Calvary introduced a new set of by-laws that governed the conduct of medical practitioners who wish to use Calvary's medical facilities. The by-laws included provisions that allowed Calvary to refuse to grant, or to revoke, the right of a medical practitioner to use its facilities if the medical practitioner had become involved in the operation of a business in competition with Calvary." What is the name of the practice that the ACCC is alleging here? O Exclusionary Conduct O Predatory Pricing O Excessive Pricing O Collusionarrow_forwardA minor enters into a contract for the purchase of certain necessaries , in such case Question 8Answer a. he is liable to pay b. his guardian is liable to pay. c. he is not personally liable to pay d. his estate is liable to payarrow_forward
- State the effect of illegality on a contract.arrow_forwardIllinois Accident and Health Producer General - Shayaan Shaikh Offer, acceptance, and consideration are necessary elements of: OA. OB. OC. OD. a warranty a representation a contract insurable interest Time Remaining Flag foarrow_forwardQUESTION 1 Which of the following is a FALSE statement? A. The E-Sign Act completely prevents the use of electronic signatures for contracting on the Internet. B. If an employer wants to preserve the at-will employment status of his or her employees, the employer should insert disclaimers in its codes and handbooks that nothing therein can be construed to create an express or implied employment contract. C. A basic principle of the National Labor Relations Act is that employers cannot terminate employees in order to discourage or encourage union membership. D. “Going public” by a company offering to sell shares of stock to the public typically results in access to broader financial markets from which to obtain capital. QUESTION 2 1. The tort of assault and the tort of battery are: A. Two names for the exact same tort. B. Strict liability torts. C. Independent torts which can occur separately from one another. D. Require proof of each of the separate elements of negligence.…arrow_forward
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