Why are contracts of insurance known as contracts of indemnity?
Question:
Why are contracts of insurance known as contracts of indemnity?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
Contracts of insurance indemnify th...View the full answer
Answered By
Hillary Waliaulah
As a tutor, I am that experienced with over 5 years. With this, I am capable of handling a variety of subjects.
5.00+
17+ Reviews
30+ Question Solved
Related Book For
Canadian Business And The Law
ISBN: 9780176795085
7th Edition
Authors: Philip King Dorothy Duplessis, Shannon O Byrne
Question Posted:
Students also viewed these Social Science questions
-
Why are insurable interest and indemnity basic insurance beliefs?
-
Why are insurance contracts viewed as contracts of adhesion? If an insurer issues a contract that includes ambiguities that an insured challenges in court, how will the courts view the case?
-
Why should the following types of life insurance contracts be avoided? (a) Credit life insurance (b) Mortgage life insurance (c) Industrial life insurance (home ser-vice life insurance).
-
Elm Corp. makes two products: C and D. The following data have been summarized: Indirect manufacturing cost information includes the following: The company plans to manufacture 250 units of each...
-
Answer the below questions. (a) What is counterparty risk? (b) Why do both the buyer and seller of a forward contract face counterparty risk?
-
Keynesian theory predicts that expansionary fiscal policy-either higher spending or lower taxes-will raise the real interest rate. Using data since 1960, graph the Federal government budget deficit,...
-
Proportion of US adults who own a cell phone. In a survey of 1006 US adults in 2014, 90% said they had a cell phone. Give the correct notation for the quantity described and give its value.
-
Wallace Corporation summarizes the following information from its weekly payroll records during April. Prepare the two journal entries to record the payment of the payroll and the accrual of its...
-
The treasurer of Banila co. has projected the cash flows of Project A, B, and C as follows: Year Project A Project B Project C 1 -$405,000 -$810,000 -$405,000 2 297,000 540,000 324,000 3 297,000...
-
Super Star, a Hollywood publicity firm, uses the balance sheet approach to estimate uncollectible accounts expense. At year-end, an aging of the accounts receivable produced the following five...
-
What is a deductible? What effect does it have on insurance premiums?
-
What is the difference between a rider and an endorsement in an insurance policy?
-
Kimberly has an idea of a new type of hazardous waste recycling company. Due to the liability issues of hazardous waste, she is a little leery of getting into this business without some protection...
-
What are the types and categories of requirements?
-
Which object oriented diagrams are generated during inception phase?
-
Why do we need use case description?
-
How long is the Inception phase can be?
-
What happens in inception?
-
The accountant for Karma Counselling Services found several errors in reviewing the unadjusted trial balance on September 30. You are to prepare correcting entries based on the following information:...
-
Write a declaration for each of the following: a. A line that extends from point (60, 100) to point (30, 90) b. A rectangle that is 20 pixels wide, 100 pixels high, and has its upper-left corner at...
-
Why is a secured creditor in a better position than an unsecured creditor?
-
What is the role of a receiver?
-
What is a deficiency?
-
Find (f+g)(-2) when f(x)=x+2 and g(x) = x - 1.
-
Following is information on two alternative investment projects being considered by Tiger Company. The company requires an 8% return from its investments. (PV of $1, FV of $1, PVA of $1, and FVA of...
-
The St. Louis to Seattle Railroad is considering acquiring equipment at a cost of $212,000. The equipment has an estimated life of 10 years and no residual value. It is expected to provide yearly net...
Study smarter with the SolutionInn App