Explain the following legal doctrines: a. Misrepresentation b. Concealment c. Warranty

Question:

Explain the following legal doctrines:
a. Misrepresentation
b. Concealment
c. Warranty

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Risk Management and Insurance

ISBN: 978-0132992916

12th edition

Authors: George E. Rejda, Michael McNamara

See More Books

Question Posted: Jan 30, 2015 07:40 AM

See More Questions

Explain how a general warranty deed differs from a quitclaim deed.
. A company sells its product subject to a warranty that covers the cost of parts for repairs during the six months after the date of sale. Warranty costs are estimated to be 5% of sales. During the...
Explain why the legal fees paid in the following three situations are treated differently for income tax purposes: a. Jim pays $10,000 in legal fees in obtaining a divorce. None of the $10,000 is...
Using the framework of the marketing mix, appraise the marketing tactics of Boo.com in the areas of Product, Pricing, Place, Promotion, Process, People and Physical Evidence.
A merchant buys an item listed at $96 less 33 1/3% from a distributor. Overhead is 32% of cost and profit is 27.5% of cost. For how much should the item be retailed?
The Ford Historical Society is an NFPO funded by government grants and private donations. It uses both an operating fund and a capital fund. The capital fund accounts for moneys received and...
This exercise considers data from the Medical Expenditure Panel Survey (MEPS) described in Exercise 1.1 and Section 11.4. Our dependent variable consists of the number of outpatient (COUNTOP) visits....
Consider a distillation column for separating ethanol from water at 1 atm. The following specifications are set: Feed: 10 mol% ethanol (bubble-point liquid) Bottoms: 1 mol% ethanol Distillate: 80...
The following data pertain to ABC Company (assume a perpetual inventory system) for the month ended January 31, 2019: Date Description Units Unit Cost Unit Selling Price Jan.1 Beg. Inventory 5...
What is an eccentric riveted joint? Explain the method adopted for designing such a joint? A bracket, attached to a vertical column by means of four identical rivets, is subjected to an eccentric...
a. What is a valued policy? Why is it used? b. What is a valued policy law? c. What is a replacement cost policy?
Insurance contracts have certain legal characteristics that distinguish them from other contracts. Explain the following legal characteristics of insurance contracts. a. Aleatory contract b....
When a variable is passed via a function parameter, what is copied? When a pointer is passed via a function parameter, what is copied?
What, in your opinion, are the three most significant impacts of a union on the management of human resources? Explain, and indicate whether the impact for each one is positive or negative.
Your distribution company operates in several remote locations around the world. Annually, there is an opportunity for regional managers to meet with their counterparts for a weeks training and...
What kind of issues might an employee face when they return home after an extended period of service overseas? What are the common problems and how should an organization seek to help the individual...
Given your answers to the previous questions, estimate the combined impact on the bottom line of direct and indirect savings generated by training. Extrapolate this number over a one- or two-year...
As discussed in the Managers Notebook, Reaching Out to Develop Careers: Social Media as a Skill and a Tool, what is the difference between social media being a skill and social media being a tool in...
What examples can be generated from group reflections on experiences in the workplace, or from stories youve heard told by friends and relatives of what managers do? Use these personal experiences...
Ball bearings are widely used in industrial applications. You work for an industrial food machinery manufacturer and your role is to design the driveshaft assembly on a new type of equipment that...
An RFLP marker is located 1 million bp away from a gene of interest. Your goal is to start at this RFLP and walk to the gene. The average insert size in the cosmid library is 55,000 bp, and the...
Explain the difference between a retail and wholesale intermediary and describe the two types of wholesalers.
What is meant by securitization of risk? How does a catastrophe bond differ from a regular corporate bond?
What is the underwriting cycle? How do industry capacity and investment returns impact the insurance market?
You have been asked to interview for a position in South Korea after graduating college with your business degree and being honorably discharged from the military. While you spent time in Spain and...
Cathy, an Aboriginal woman, is being supported by staff after the loss of her home and her son in a bushfire. Explain how staff should communicate with Cathy to respond to her needs in relation to...
3. Social media simultaneously draws us together and pulls us apart; does the good outweigh the bad or vice versa? Discuss your views on whether the good outweighs the bad or vice versa.

Explain the following legal doctrines: a. Misrepresentation b. Concealment c. Warranty

Question:

Step by Step Answer:

a Representations are statements made by the applicant for insurance A misrepresentation i...View the full answer

Principles of Risk Management and Insurance

Students also viewed these Corporate Finance questions