Contract and acceptance Study guides, Class notes & Summaries

LEGL 2700 Roessing Exam 2 Questions and Answers Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer ️️ Tangible (touchable), movable personal property Bilateral Contract - Answer ️️ Promise in exchange for a promise Involves promisor ...

The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: Fair Credit Reporting Act A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: A fraternal benefit society What I the name...

Georgia Adjuster Exam Questions and Answers Already Passed An insured's business is damaged because of a fire and he is forced to close business temporarily for repairs. As a result the insured lost income. What type of loss is this? Consequential also known as Indirect Loss The insured crashes into a porch and the person sitting on the porch. The person on the porch is injured. The insured's insurance policy has a limit set at $500,000. This amount applies to the total of damages for any bo...

CON 2370 Simplified Acquisition Procedures EXAM GRADED A LATEST 2023/2024 T01.E06 You have a requirement for water restoration services at your base in Louisiana. Three services are of a type sold competitively in substantial quantities in the commercial marketplace base on market prices. The estimated dollar value of the acquisition is $1,250,000. Which of the following is true? - CORRECT ANSWER the use of simplified acquisition procedures is authorized. T03.E03a You are the co...

CON 2370 Simplified Acquisition Procedures EXAM GRADED A LATEST 2023/2024 T01.E06 You have a requirement for water restoration services at your base in Louisiana. Three services are of a type sold competitively in substantial quantities in the commercial marketplace base on market prices. The estimated dollar value of the acquisition is $1,250,000. Which of the following is true? - CORRECT ANSWER the use of simplified acquisition procedures is authorized. T03.E03a You are the co...

QUESTION 1 Discuss the causality (at the expense of requirement) requirement of enrichment liability. (10) QUESTION 2 In McCarthy Retail Ltd v Shortdistance Carriers CC 2001 (3) SA 482 (SCA) para [9] the court said: “We now know from the hard print that there is a common-law basis for the acceptance of a general enrichment action, at least one of a subsidiary nature. In this respect the decision of the majority in Nortje’s case has been shown by the then largely dormant authority to b...

1. The lease contract stated that the renters would bring in the security deposit within five days. It is now the sixth day and the renters have not brought in the money. This is legally referred to as: - Answer- Breach 2. In dealing with the public, a licensee: - Answer- may keep silent about a material fact concerning the property if the client is the owner. d) may negotiate different commissions with different owners. 3. Escrow monies: - Answer- could include security deposits as well a...

CON 3990 FAR Exam Practice Questions and Answers | Latest Update 2023/2024. FAR Part 2 -CORRECT ANSWER Definitions of Words and Terms FAR Part 3 -CORRECT ANSWER Improper Business Practices & Personal Conflicts of Interest FAR Part 4 -CORRECT ANSWER Administrative Matters FAR Part 5 -CORRECT ANSWER Publicizing Contract Actions FAR Part 6 -CORRECT ANSWER Competitive Requirements FAR Part 7 -CORRECT ANSWER Acquisition Planning FAR Part 8 -CORRECT ANSWER Required Sources of Supplies and Servic...

MRL3701 INSOLVENCY LAW PAST EXAM PACK QUESTIONS AND ANSWERS SUMMARISED NOTES S - The study-notes marketplace MRL 3701 OCTOBER/NOVEMBER 2018 QUESTION 1 a) Inability to pay debts is, at most merely evidence of insolvency. (page 3) b) Brenda’s application for voluntary surrender must be set out the causes of her insolvency in some detail to enable the court to determine whether the application is ......................... c) Christopher commits an act of insolvency by depar...

LAW OF CONTRACT NOTES: Contract as an agreement intended to create enforceable obligations A contract is an agreement between two or more parties. The extra ingredient that distinguishes contracts from non-binding agreements is a serious intention to create legally enforceable obligations (animus contrahendi). The absence of an animus contrahendi explains why ‘gentlemen’s agreements’ are not enforceable as contracts. Legally binding agreements that are not contracts: The ...