Contract law Study guides, Class notes & Summaries

USAA Test (License) Questions with Correct AnswersWhat type of reinsurance contract involves two companies automatically sharing their risk exposure? Answer- treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Answer- risk retention group What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained? Answer- Fair Credit Reporting Act

An enforceable contract results from an agreement that imposes a legal obligation - CORRECT ANSWER true One reason for creating a contract is for employment - CORRECT ANSWER true A contract may be extended and revised as needed to reflect the wishes of the parties - CORRECT ANSWER true A contract must show mutual agreement, which is also referred to as "a meeting of the minds" - CORRECT ANSWER true A promise to give up something of value that a person has a legal ri...

A sales agent or broker associate may perform duties as a real estate licensee under what circumstance? (Ans- While associated with and supervised by a broker. What is the name of the part of the beach that is privately owned? (Ans- Dry beach. Real estate law covers general property law, real estate license law, the law of contracts, landlord/tenant law, consumer protection, and: (Ans- The law of agency Which entity is charged with administering the laws of TRELA? (Ans- The Texa...

Texas - Law of Contracts - Real Estate Questions and Answers Graded A A sewer system is NOT Included in the description of land Joint Tenancy If one tenant dies, the decedent's share of interest passes to surviving tenant(s). Manufactured Housing Considered Real Property in Texas if Owner chooses to treat it as such. Conveyance Deed Transfers permanently fixed objects attached to a home such as a permanently attached deck. Abstract of Title A summary of title s...

CAIB 1 Chapter 1 Exam Questions And Answers Define in pure insurance terms ``risk." - ANS The chance of financial loss to which an object of insurance is exposed. List the three categories of risk generally faced by people. - ANS Personal - loss of health/life Property - objects Liability - negligent actions result in injury/damage State 4 possible options people can choose to deal with risk and give a brief explanation and example of each. - ANS Avoidance - all chance of fin...

The superior government has the right to supersede the lesser government's laws. The lesser government cannot pass a law that is inconsistent with the superior government's law. - correct answer Which is the best description of the U.S. legal concept of "preemption"? to provide guidance about what practices the FTC finds inappropriate - correct answer What is one reason consent decrees are posted publicly on the FTC website? binding corporate rules - correct answer Which of the followi...

The pigment that gives skin its colour. ____ protects the skin from the UV rays associated with various skin cancers. Populations near the equator have darker skin to protect them from the harsh effects of the sun. correct answer: Melanin Populations living near the equator. correct answer: Equatorial Populations Nature "selects" the best adapted varieties of animals for survival. correct answer: Natural Selection The idea that, in ways mirror natural selection, society "selects"...

NC Life Insurance Exam Prep Questions and Answers Already Passed An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? Premiums are waived if payor becomes disabled An agent who signs a blank contract application or...

Elsevier Practice for 3rd Concepts Exam 25 Questions with Verified Answers Which statement by the nurse shows knowledge of public law? a. "Public law interprets relationships between individuals and the government." b. "Public law includes contract law." c. "Public law solely involves the relationships between individuals." d. "Public law consists of tort law." - CORRECT ANSWER a. "Public law interprets relationships between individuals and the government." The function of ...

Your client tells you that the home inspection has been done, and the home passed with no problems reported. You're surprised, since you'd pointed out a couple items you thought would come up on the inspection report. You weren't at the appointment, but later you discover that the home inspector had the flu that day, and sent a trainee to complete the assignment without informing your client. Why is this illegal in Delaware? - Trainees must be directly supervised by a licensed home inspec...