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Exam (elaborations)

AIC 301 QUIZ/TEST STUDY QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

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AIC 301 QUIZ/TEST STUDY QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

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Institution
AIC 301
Course
AIC 301

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Uploaded on
September 18, 2024
Number of pages
8
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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  • aic 301 quiztest study questions and answers with

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AIC 301 QUIZ/TEST STUDY QUESTIONS
AND ANSWERS WITH SOLUTIONS 2024
MarketWShareWLiabilityW-
WANSWERWAppliesWwhenWaWproductWthatWhasWharmedWaWconsumerWcannotWbeWtracedWtoWaWsingleWman

ufacturer.WTheyWareWliableWunlessWtheyWcanWproveWtheyWcouldWnotWhaveWmadeWtheWproductWinvolved.



AWDefenseWtoWFraudW-
WANSWERWTheWdefendantWmustWmakeWtheWrepresentationWwithWtheWintentWtoWinfluenceWtheWotherWpart

y'sWaction.WIfWtheWdefendantWdidWnotWintendWtoWdeceive,WthereWisWnoWproofWofWfraud.



CommunityWPropertyW-
WANSWERWUnderWtheWcommunityWpropertyWconceptWtwoWtypesWofWpropertyWcanWbelongWtoWaWspouseW-

WseparateWpropertyWasWwellWasWcommunityWproperty.WSeparateWpropertyWisWtheWrespectiveWspouse'sWsol

eWpropertyWandWitWisWfreeWfromWtheWotherWspouse'sWinterestWorWcontrol.



ParoleWEvidenceWRuleW(PER)W-
WANSWERWTheWparoleWevidenceWruleWprovidesWthatWoralWevidenceWofWagreementsWprecedingWorWaccom

panyingWaWwrittenWinsuranceWpolicyWcannotWbeWusedWtoWproveWaWwaiver.WThus,WtheWagent'sWoralWstatem
entsWmadeWatWthisWtimeWwouldWnotWbeWadmittedWintoWevidenceWandWthusWwouldWbeWineffectiveWasWaWw
aiver.



AWprovisionWthatWpreventsWtheWtermsWofWaWcontractWfromWbeingWmodifiedWbyWevidenceWofWoralWorWothe
rWagreementsWafterWtheWcontractWhasWbeenWwritten.



DefensesWtoWTortWFraudW-WANSWERWTheWstatementWwasWnotWfalse

TheWstatementWdidWnotWrelateWtoWaWmaterialWfactW

TheWdefendantWdidWnotWknowWtheWstatementWwasWfalse

TheWdefendantWdidWnotWintendWtoWdeceiveW

TheWplaintiffWdidWnotWrelyWonWtheWstatementsW

TheWplaintiffWsufferedWnoWharmWorWorWlossWbecauseWofWrelyingWonWtheWstatement

, AWConstructiveWEvictionW-
WANSWERWActionsWorWinactionsWofWaWlandlordWthatWcreateWconditionsWthatWpreventWaWtenantWfromWenjo

yingWaWsubstantialWorWintegralWpartWofWtheWpremiseWconstituteWaWconstructiveWeviction.



RepudiationWofWaWContractW-
WANSWERWrepudiationWofWaWcontractWisWtheWrefusalWtoWmeetWobligationsWunderWtheWcontract,WbutWitWm

ustWbeWpositiveWandWunequivocalWtoWconstituteWaWbreach.WAWstatementWofWinabilityWtoWperformWinWtheW
futureWisWnotWrepudiation.WAWpersonWcannotWsueWforWbreachWofWcontractWuntilWdueWdateWandWpersonWh
asWfailedWtoWcompleteWtheWjob.



FrustrationWofWPurposeW-
WANSWERWAWrentalWcontractWisWuselessWtoWaWpersonWsinceWtheWoriginalWpurposeWforWtheWrentalWwasWfru

stratedWbecauseWtheWcelebrityWwasWnotWthere.WFrustrationWofWpurposeWcanWdischargeWaWcontractWthatWi
sWpossibleWtoWperform,WwhenWaWsuperveningWeventWdestroysWtheWproposeWorWvalueWofWtheWcontract,Wpr
ovidedWthatWbothWpartiesWareWawareWofWthatWpurposeWorWvalue.



DirectWActionWStatutes




GarnishmentW-
WANSWERWThirdWpartiesWareWgenerallyWnotWallowedWtoWsueWinsurersWofWnegligentWpartiesWwhoWinjureWth

emWorWdamageWtheirWproperty.WSomeWstatesWhaveWenactedWdirectWactionWstatutesWpermittingWthirdWpar
tyWsueWinsurerWdirectlyWorWbothWinsurerWandWinsured/wrongdoer/tortfeasorWdirectlyW



IfWinsuredWdeniesWclaimWpaymentsWafterWjudgement,WsomeWstatesWallowWthirdWpartyWtoWsueWtheWinsurer
WdirectlyWinWaWstatutoryWactionWcalledWgarnishment.




ConsequentialWDamagesW-
WANSWERWTheWlossWofWtheWentryWfeeWmoneyWisWanWexampleWofWconsequentialWdamages.WConsequential

WdamagesWareWawardedWbyWcourtWtoWindemnifyWinjuredWpartiesWforWlossesWthatWresultWindirectlyWfromWa

Wwrong,WsuchWasWaWbreachWofWcontractWasWinWthisWsituation.




Enterprise/Industry-WideWLiability
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