Study guides, Class notes & Summaries

AIC 301 - FINAL EXAM PREP QUESTIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+AIC 301 - FINAL EXAM PREP QUESTIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

AIC 301 Exam Questions With 100% Correct Answers Which one of the following statements correctly expresses a distinction between waiver and estoppel? A. Only waiver prevents an insurer from reviving a defense it has forfeited earlier. B. The parol evidence rule applies to estoppel, but not to waiver. C. Estoppel is contractual in nature, but waiver is equitable in nature. D. Estoppel requires resulting injury or detriment by the party asserting it. - answerD. Estoppel requires resulting ...

The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - CORRECT ANSWER A. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from a public road. One evening, a police officer ch...

The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - CORRECT ANSWER A. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from a public road. One evening, a police officer c...

AIC 301 Exam Questions With All 100% Correct Answers . What two categories of warranties can a lawsuit for breach of warranty involve? A lawsuit for breach of warranty can involve either an express warranty or an implied warranty What factors should a manufacturer consider when deciding whether a product requires a warning of unreasonable danger? A manufacturer should consider three factors when considering whether a warning is necessary: • Degree of the danger • Knowledge of the dan...

AIC 301 - Final Exam Prep Questions And Answers 100% Verified The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - answerA. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from ...

AIC 301 Exam Questions With 100% Correct Answers Which one of the following statements correctly expresses a distinction between waiver and estoppel? A. Only waiver prevents an insurer from reviving a defense it has forfeited earlier. B. The parol evidence rule applies to estoppel, but not to waiver. C. Estoppel is contractual in nature, but waiver is equitable in nature. D. Estoppel requires resulting injury or detriment by the party asserting it. - answerD. Estoppel requires resulting ...

AIC 301 Chapter 1 Test with Complete Solutions Assignor - Answer-the party making the assignment third party beneficiary - Answer-a contract between two parties that benefits a third party Donee Beneficiary - Answer-a third party beneficiary who recieves the benefit of a contract's performance as a gift from the promisee, with the intent of the contacting parties discharge - Answer-the act of ending a contract, agreement, or obligation assignment - Answer-the transfer of rights or ...

AIC 301 Final Exam Prep Questions and Answers All Correct The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - Answer-A. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from a...

AIC 301 Test Prep Questions with Correct Answers Which one of the following statements correctly expresses a distinction between waiver and estoppel? A. Only waiver prevents an insurer from reviving a defense it has forfeited earlier. B. The parol evidence rule applies to estoppel, but not to waiver. C. Estoppel is contractual in nature, but waiver is equitable in nature. D. Estoppel requires resulting injury or detriment by the party asserting it. - Answer-D. Estoppel requires resulting i...

AIC 301 2024 Study Set with Complete Solutions Valid Assignment - Answer-Effective without obligor notification Contra proferentum - Answer-Interpreting ambiguous language against its creator's interests Repudiation - Answer-Positive refusal to meet contract obligations Novation - Answer-Substitution of a party in a contract Nonperformance - Answer-Insurer's right against the insured for material breach Substantial Performance - Answer-Completing primary terms of an agreement ...

AIC 301 2024 Exam Questions and Answers All Correct .What are the elements of a legally binding contract? - Answer-To be legally binding, contracts must: • Contain an agreement between all parties • Involve parties with the legal capacity to contract • Contain mutual assent • Involve consideration • Have a legal purpose • Be in the form prescribed by law What are the similarities and differences between bilateral and unilateral contracts? - Answer-In bilateral cont...