Competent parties Study guides, Class notes & Summaries

Texas Promulgated Contracts-CHAMPIONS Exam 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (...

State the function and purpose of civil process. - Primary function: 1. Giving notice 2. preserving the status quo. 3. Providing remedies for parties. 4. Enforcing decisions of the courts. State the purpose of civil process - Civil actions, there is no arrest or issued citation. Non- criminal actions, there must be a way to notify the defendant that claims that have been alleged against them by the plaintiff and what the must do to respond. State how to access the North Carolina administra...

Adjuster Pro - Insurance adjuster test latest 2023 already passed What is insurance? protection against financial loss what is a premium a scheduled amount to be paid for an insurance policy. What are premiums used for premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Ind...

Well-structured LEV3701 Assignment 1 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... Consider the following statements about the relevance and admissibility of evidence and choose the correct statement: © 1. Facts relevant to the facts in issue may become in issue themselves. An example would be the reliability of a witness. 2. A finding by a court that a piece of evidence is inadmissible due to irrelevance is final and cannot be recon...

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2023 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...

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...

Promulgated Contract Forms - Champions School Of Real Estate Latest Test Mutual consent a "meeting of the minds" Unilateral Contract A contract in which only one party Is obligated to perform. one sided Consideration something given in exchange for a promise Option an agreement between a buyer and seller giving the buyer the right to purchase a property at a preset price for a given period of time Unenforceable Contract a contract that cannot be enforced due to some flaw or other issu...

AD Banker Comprehensive Exam 2024 Questions and Answers A producer who is acting as an agent is representing: A The insured, the applicant and the beneficiary B Always the insured C The insured and the insurer D Always the insurer - Ans ️️ -D In order to be valid, a contract must be between individuals considered legally able to enter into an agreement. This principle is known as: A Restricted persons B Considerations C Competent parties D Agreement - Ans ️️ -C A com...

Escrow Sample Test – Utah| 100 QUESTIONS| WITH COMPLETE SOLUTIONS. An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds correct answer: (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have...

An Insurance company is the_____. correct answers Principle An insurance company issued a homeowners policy that included ambiguous language regarding how a loss was settled. The insured sued the insurance company and won. The judge stated that due to the ambiguous language in the contract the decision must be made in favor of the insured. The judge was basing this decision on which of the following types of insurance contract? correct answers Contract of adhesion The _____ page in an insu...