AIC 301 - Test Prep 2024/2025 Exam
Questions and Answers 100%
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Which one of the following statements correctly expresses a distinction
between waiver and estoppel?
A. Only waiver prevents an insurer from reviving a defense it has forfeited
earlier.
B. The parol evidence rule applies to estoppel, but not to waiver.
C. Estoppel is contractual in nature, but waiver is equitable in nature.
D. Estoppel requires resulting injury or detriment by the party asserting it. -
🧠ANSWER ✔✔D. Estoppel requires resulting injury or detriment by the
party asserting it.
Allison sued George for breach of contract and the term "contractual
consideration" was at issue. In court, the term would be given its
Select one:
A. Legal meaning.
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, B. Technical meaning.
C. Dictionary definition.
D. Common usage meaning. - 🧠ANSWER ✔✔A. Legal meaning.
Paul and Jerry were both six years old when they entered a neighbor's
home and used baseball bats to smash and break household items. When
establishing liability for Paul's and Jerry's actions, the court will most likely
primarily consider
Select one:
A. Their vicarious liability as children.
B. It as a mass tort action.
C. It to be liability by conspiracy.
D. The tortfeasors' capacity. - 🧠ANSWER ✔✔D. The tortfeasors' capacity.
Andrew promised Katy he would roof her house on October 30. On October
15, Andrew told Katy he could not find the correct shingles and stated he
was probably going to be too busy to do the job. Andrew has
Select one:
A. Not repudiated the contract.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
Questions and Answers 100%
Guaranteed Success | Already Rated A+
Which one of the following statements correctly expresses a distinction
between waiver and estoppel?
A. Only waiver prevents an insurer from reviving a defense it has forfeited
earlier.
B. The parol evidence rule applies to estoppel, but not to waiver.
C. Estoppel is contractual in nature, but waiver is equitable in nature.
D. Estoppel requires resulting injury or detriment by the party asserting it. -
🧠ANSWER ✔✔D. Estoppel requires resulting injury or detriment by the
party asserting it.
Allison sued George for breach of contract and the term "contractual
consideration" was at issue. In court, the term would be given its
Select one:
A. Legal meaning.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, B. Technical meaning.
C. Dictionary definition.
D. Common usage meaning. - 🧠ANSWER ✔✔A. Legal meaning.
Paul and Jerry were both six years old when they entered a neighbor's
home and used baseball bats to smash and break household items. When
establishing liability for Paul's and Jerry's actions, the court will most likely
primarily consider
Select one:
A. Their vicarious liability as children.
B. It as a mass tort action.
C. It to be liability by conspiracy.
D. The tortfeasors' capacity. - 🧠ANSWER ✔✔D. The tortfeasors' capacity.
Andrew promised Katy he would roof her house on October 30. On October
15, Andrew told Katy he could not find the correct shingles and stated he
was probably going to be too busy to do the job. Andrew has
Select one:
A. Not repudiated the contract.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
