« previous next »

Author Question: Mark owns a bar. The bar has a back room where Mark has some slot machines. Mark lets some of his ... (Read 173 times)

gonzo233

  • Hero Member
  • *****
  • Posts: 557
on: Jul 11, 2018
Mark owns a bar. The bar has a back room where Mark has some slot machines. Mark lets some of his patrons play the machines, and Mark keeps any profits.
 
  This type of gambling is illegal where Mark lives. Mark wanted to purchase insurance in case his slot machines were confiscated by the police. Such an insurance contract would not be enforceable. Which requirement needed to form a valid insurance contract is missing?
  A) consideration
  B) offer and acceptance
  C) legal purpose
  D) competent parties

Question 2

Dave is an agent for Easy Pay Insurance. Easy Pay insures only high-quality applicants. Dave wanted to earn more commissions, so he sold some policies to applicants he knew were below-average risks.
 
  When these policyowners started filing claims, Easy Pay tried to deny the claims stating that Dave had not acted appropriately. Which general rule of agency makes Easy Pay responsible for the claims of the higher-than-average risk policyowners?
  A) There is no presumption of an agency relationship.
  B) Agents should be compensated based on the quality of the business they generate.
  C) A principal is responsible for the acts of its agents who are acting within the scope of their authority.
  D) An agent must have authority to represent the principal.


ashely1112

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: C

Answer to Question 2

Answer: C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

gonzo233

  • Hero Member
  • *****
  • Posts: 557
Reply #2 on: Jul 11, 2018
Thank you :)


ashely1112

  • Sr. Member
  • ****
  • Posts: 347
Reply #3 on: Jul 11, 2018
Happy to help you


« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Player - Baby Come Back Player - Baby Come Back
Lucas Samaras, Room No. 2 (popularly known as the Mirrored Room) (detail). Lucas Samaras, Room No. 2 (popularly known as the Mirrored Room) (detail).
A physician uses a portable electronic tablet to enter patient data while in the examination room. A physician uses a portable electronic tablet to enter patient data while in the examination room.
An example of the front and back sides of a deposit slip. An example of the front and back sides of a deposit slip.
Thick-walled barrel-shaped arthrospores on thin glass like hyphae; the room-temperature form of ... Thick-walled barrel-shaped arthrospores on thin glass like hyphae; the room-temperature form of ...
Tiësto - Back Around (feat. AR/CO) [Official Audio] Tiësto - Back Around (feat. AR/CO) [Official Audio]
Video: Fractures Animation

For a complete list of videos, visit our video library