Breach of representation Study guides, Revision notes & Summaries

Nevada and National Real Estate Questions and Answers Rated A+ Nevada recognizes two types of agency concerning real property: general agency and special agency general agency which the agent is authorized under a general power-of- attorney to perform all duties for the principal that the principal could perform to convey real property (general agency requires a written power-of-attorney with its special recording requirements) special agency which the agent is given limited authorit...

Wisconsin Property and Casualty Latest Update Graded A+ FAIR Fair Access to Insurance Requirements Elements of a Legal Contract. L. O. A. C. • Consideration • Legal Purpose • Offer • Acceptance • Competent Parties Consideration Money and statements made on application Legal Purpose Risk transfer doesn't violate the law Offer Insured submits application and first month premium to insurer Insurer accepts or insurer declines the risk Counteroffer Agrees to iss...

ISC2 Cybersecurity Certification Vocabularies (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: Baseline A documented, lowest level of security configuration allowed by a standard or organization. Q: Biometric Answer: Biological characteristics of an individual, such as a fingerprint, hand geometry, voice, or iris patterns. Q: Bit Answer: The most essential representation of data (zero or one) at Layer 1 of the Open Systems Inter...

What course of action does a party to a contract have if the other party is found to be in breach of that contract? - Answer-Damages for breach, reasonable attorney fees, and costs. A representation in an insurance contract qualifies as of the following? -an amendment -an expressed warranty -a policy provision -an implied warranty - Answer-implied warranty What does it mean if an agent's license is inactive? - Answer-the agent cannot transact any insurance business for which is valid, a...

Florida Health 240 Insurance Exam (Graded A+) Florida Health 240 Insurance Exam (Graded A+) Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on a...

duty-based ethics - Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome utalitarian ethics - Sells the optimal result for the greatest number of people Advisory note - Punishment for a technical breach Administrative penalty/ fine - One or two potentially serious infraction would cause this punishment Ratification- acting without authority or in excess of authority Implication- advice outside of objective - These two ways of creating...

What course of action does a party to a contract have if the other party is found to be in breach of that contract? - Damages for breach, reasonable attorney fees, and costs. A representation in an insurance contract qualifies as of the following? -an amendment -an expressed warranty -a policy provision -an implied warranty - implied warranty What does it mean if

Arkansas Insurance Adjuster P&C Exam || With Complete Solutions (Rated A+) Arkansas Insurance Adjuster P&C Exam || With Complete Solutions (Rated A+) The major portion of the premium for an equipment breakdown policy pays -For repairs after a loss. -For coverage for bodily injury and property damage of others. -For replacement parts. -For inspections and examinations. - ANSWER - For inspections and examinations. #3. The party to a surety or fidelity bond who promises to fulfill the...

Florida Health 240 Insurance Latest 2024 Already Passed Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on an uncertain event. property and casualty agent...

FAIR - Fair Access to Insurance Requirements Elements of a Legal Contract. L. O. A. C. - • Consideration • Legal Purpose • Offer • Acceptance • Competent Parties Consideration - Money and statements made on application Legal Purpose - Risk transfer doesn't violate the law Offer - Insured submits application and first month premium to insurer Insurer accepts or insurer declines the risk Counteroffer - Agrees to issue policy but with higher premium or restrictions/ exclusions ...