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AIC 301 - ALL THE TERMS AND DEFINITIONS QUESTIONS AND ANSWERS

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AIC 301 - ALL THE TERMS AND DEFINITIONS QUESTIONS AND ANSWERS

Institution
AIC 301
Course
AIC 301

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What are general damages?


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Monetary award for losses like pain and suffering.




Who is the promisee?


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The party to a contract to whom a promise is made.




What is gross negligence?

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An act that completely disregards safety or rights of others.




What is an incontestable clause?


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A clause that prevents the insurer from contesting the policy after a
specified period.




What is a direct-action statute?


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A law that allows a negligence victim to sue an insurer directly.




What is the definition of Incidental beneficiary?


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A third-party beneficiary benefiting from a contract unintentionally.




What is proximate cause?


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, Legal cause that directly leads to an injury.




What is negligence?


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The failure to exercise the degree of care that a reasonable person in a
similar situation would exercise to avoid harming others.




What is family purpose doctrine?


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Holding automobile owner liable for family member's damages.




Who is the offeror?


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The party to a contract who promises to give something in return for a
promise or an act by another party.




What is market share liability?


Give this one a try later!

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Institution
AIC 301
Course
AIC 301

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Number of pages
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Written in
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