Which statement is an example of first party insurance coverage?

	1.	You get insurance to provide compensation to any customer who slips and falls in your business's parking lot.
	2.	You get insurance to provide compensation if the contents of your factory are destroyed in a fire.
	3.	All of the above.
	4.	You get insurance protection in case one of your truck drivers negligently causes an accident that injures other drivers.
	5.	Your business gets insurance to cover the situation where one of your employees steals from a customer.

The obligations under a contract can be discharged when both parties satisfactorily perform the terms of the contract. Which of the following will constitute properperformance?

	1.	none of the above.
	2.	when failure to perform involves a condition
	3.	when a major term is breached
	4.	an excellent effort made to "whole contract" without exact performance
	5.	substantial performance

Which of the following statements about the nature of consideration istrue?

	1.	Consideration must involve a benefit; giving up something is not valid consideration.
	2.	Judges try to ensure that consideration from each party is of equal value.
	3.	Sufficient consideration could be almost anything of value.
	4.	All of the above.
	5.	Adequate consideration is always a requirement.