This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements about consideration in an insurance contract is (are) true? I. ... (Read 70 times)

mspears3

  • Hero Member
  • *****
  • Posts: 586
on: Jul 11, 2018
Which of the following statements about consideration in an insurance contract is (are) true?
 
  I. The insured's total consideration is submission of a completed application.
  II. The insurer's consideration is the promise to do those things specified in the policy.
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II

Question 2

David owns a liquor store in a high-crime area. In order to obtain a reduced insurance premium, David promised to have a burglar alarm operating at the store when the store was closed.
 
  This agreement, which was incorporated into the insurance contract, is an example of a
  A) representation.
  B) binder.
  C) rider.
  D) warranty.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickybb89

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

Answer: B

Answer to Question 2

Answer: D


mspears3

  • Member
  • Posts: 586
Reply 2 on: Jul 11, 2018
:D TYSM

nothere

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

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?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

True Friendship True Friendship
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Examples of Mission Statements Examples of Mission Statements
How to convert verbal statements into algebraic equations (Part 1) How to convert verbal statements into algebraic equations (Part 1)
How to convert verbal statements into algebraic equations (Part 2) How to convert verbal statements into algebraic equations (Part 2)
How to convert verbal statements into algebraic equations (Part 4) How to convert verbal statements into algebraic equations (Part 4)
Video: Hypoglycemia Animation

For a complete list of videos, visit our video library