AIC 301 Study guides, Class notes & Summaries
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AIC 301 - FINAL EXAM PREP QUESTIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
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AIC 301 - FINAL EXAM PREP 
QUESTIONS EXAM | QUESTIONS & 
ANSWERS (VERIFIED) | LATEST 
UPDATE | GRADED A+AIC 301 - FINAL EXAM PREP 
QUESTIONS EXAM | QUESTIONS & 
ANSWERS (VERIFIED) | LATEST 
UPDATE | GRADED A+
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AIC 301 Exam Questions With 100% Correct Answers
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AIC 301 Exam Questions With 100% 
Correct Answers 
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. - answerD. 
Estoppel requires resulting ...
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AIC 301 - FINAL EXAM PREP 2024 QUESTIONS WITH COMPLETE SOLUTIONS ALREADY PASSED AND VERIFIED
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The act of leaving a dangerous article such as a gun or car with a person who the lender 
knows, or should know, is likely to use it in an unreasonably risky manner is known as 
Select one: 
A. Negligent entrustment. 
B. Contributory negligence. 
C. Negligent supervision. 
D. The dangerous instrumentality doctrine. - CORRECT ANSWER A. Negligent 
entrustment. 
 
There was a large unmarked sinkhole on Charlotte's property, a short distance from a 
public road. One evening, a police officer ch...
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AIC 301 - FINAL EXAM PREP 2024 QUESTIONS WITH COMPLETE SOLUTIONS ALREADY PASSED AND VERIFIED
- Exam (elaborations) • 23 pages • 2024
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The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as 
Select one: 
A. Negligent entrustment. 
B. Contributory negligence. 
C. Negligent supervision. 
D. The dangerous instrumentality doctrine. - CORRECT ANSWER A. Negligent entrustment. 
 
There was a large unmarked sinkhole on Charlotte's property, a short distance from a public road. One evening, a police officer c...
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AIC 301 Exam Questions With All 100% Correct Answers
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AIC 301 Exam Questions With All 100% Correct Answers 
. What two categories of warranties can a lawsuit for breach of warranty involve? 
A lawsuit for breach of warranty can involve either an express warranty or an implied warranty 
What factors should a manufacturer consider when deciding whether a product requires a warning of 
unreasonable danger? 
A manufacturer should consider three factors when considering whether a warning is necessary: 
• Degree of the danger 
• Knowledge of the dan...
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AIC 301 - Final Exam Prep Questions And Answers 100% Verified
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AIC 301 - Final Exam Prep Questions And 
Answers 100% Verified 
The act of leaving a dangerous article such as a gun or car with a person who the lender knows, 
or should know, is likely to use it in an unreasonably risky manner is known as 
Select one: 
A. Negligent entrustment. 
B. Contributory negligence. 
C. Negligent supervision. 
D. The dangerous instrumentality doctrine. - answerA. Negligent entrustment. 
There was a large unmarked sinkhole on Charlotte's property, a short distance from ...
-
AIC 301 Exam Questions With 100% Correct Answers
- Exam (elaborations) • 5 pages • 2024
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- $10.49
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AIC 301 Exam Questions With 100% 
Correct Answers 
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. - answerD. 
Estoppel requires resulting ...
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AIC 301 Chapter 1 Test with Complete Solutions
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AIC 301 Chapter 1 Test with Complete Solutions 
Assignor - Answer-the party making the assignment 
 
third party beneficiary - Answer-a contract between two parties that benefits a third party 
 
Donee Beneficiary - Answer-a third party beneficiary who recieves the benefit of a contract's performance as a gift from the promisee, with the intent of the contacting parties 
 
discharge - Answer-the act of ending a contract, agreement, or obligation 
 
assignment - Answer-the transfer of rights or ...
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AIC 301 Final Exam Prep Questions and Answers All Correct
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AIC 301 Final Exam Prep Questions and Answers All Correct 
 
The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as 
Select one: 
A. Negligent entrustment. 
B. Contributory negligence. 
C. Negligent supervision. 
D. The dangerous instrumentality doctrine. - Answer-A. Negligent entrustment. 
 
There was a large unmarked sinkhole on Charlotte's property, a short distance from a...
-
AIC 301 Test Prep Questions with Correct Answers
- Exam (elaborations) • 4 pages • 2024
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AIC 301 Test Prep Questions with Correct Answers 
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 i...
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AIC 301 2024 Study Set with Complete Solutions
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AIC 301 2024 Study Set with Complete Solutions 
Valid Assignment - Answer-Effective without obligor notification 
 
Contra proferentum - Answer-Interpreting ambiguous language against its creator's interests 
 
Repudiation - Answer-Positive refusal to meet contract obligations 
 
Novation - Answer-Substitution of a party in a contract 
 
Nonperformance - Answer-Insurer's right against the insured for material breach 
 
Substantial Performance - Answer-Completing primary terms of an agreement 
...
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AIC 301 2024 Exam Questions and Answers All Correct
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AIC 301 2024 Exam Questions and Answers All Correct 
 
.What are the elements of a legally binding contract? - Answer-To be legally binding, contracts must: 
 • Contain an agreement between all parties 
• Involve parties with the legal capacity to contract 
 • Contain mutual assent 
• Involve consideration 
• Have a legal purpose 
 • Be in the form prescribed by law 
 
What are the similarities and differences between bilateral and unilateral contracts? - Answer-In bilateral cont...
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