This topic contains a solution. Click here to go to the answer

Author Question: Bob purchased insurance on his home with an insurer that was not licensed to do business in the ... (Read 35 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
Bob purchased insurance on his home with an insurer that was not licensed to do business in the state. In this case, which requirement to form a binding insurance contract is lacking?
 
  A) exchange of consideration
  B) offer and acceptance
  C) legal purpose
  D) competent parties

Question 2

All of the following statements about subrogation are true EXCEPT
 
  A) The general rule allows the insurer to recover up to the amount paid to its insured under the policy.
  B) Subrogation does not apply in life insurance.
  C) Interfering with the insurer's subrogation rights can jeopardize indemnification of the insured.
  D) The insurer reserves the right to subrogate against its own insureds.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

adf223

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

Answer: D

Answer to Question 2

Answer: D




xclash

  • Member
  • Posts: 681
Reply 2 on: Jul 11, 2018
Great answer, keep it coming :)


tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

For a complete list of videos, visit our video library