distinguish between pure risk and speculative risk ? How risk is handled? Why every risk is not insured? What are the characteristics of Insurable risks? What are the requisites of Insurance for Covering Risk? What are the Principles of Insurance contract? What are the different types of Life Insurance policies? How Insurance is different from Gambling? 10. What is the main function of insurance? 11. What is the greatest value of insurance? 12. What is the Purpose of Life Insurance? 13. How insurance
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Abstract This report will expound on contracts and agreements by explaining about offer and acceptance, along with agreement and enforceability at law and how it affects persons involved. One can be easily mislead if they are not aware of rights and obligations, misconception or misinterpretation can result in lawsuits. It will talk about advertisement and the perception of the viewers, as well as the legal obligations of the advertiser and customer. Deals Too
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Embedded in certain contracts are several types of incentives; cost, performance, and delivery that encourage contractors to perform within contract requirements. Burleson states that cost-incentive contracts are the most common and the target profit or fee is established at the start of the contract. “Full profit or fee is paid when the actual cost meets the target cost. A fee reduction results when the actual cost exceeds the target cost, and an increase in profit or fee results from actual cost
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This case consists of mainly two parts: one is the formation of a contract and the other one is the operation of the contract. Thus in this paper I will discuss it in two individual parts. [PART I] ISSUE: Is the advertisement “mere puff”? Or is there a binding contract between Michael and Slimy Motors Pty. Ltd.or the manufacturer who authorized the advertisement? RULE: Five elements which must be established before a contract can be formed- offer, acceptance, agreement, consideration and intention;
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“Contracts made by minors are void”. Explain this statement and discuss its exceptions. Contracts entered into by a minor, one below the age at which state law deems persons to possess capacity to contract, currently 18 years old in most states are generally voidable by the minor-party, even if he misrepresented his age. A minor can furthermore avoid contractual obligations for a reasonable time after attaining the age of majority. However, if he fails to disaffirm within a reasonable time
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1. Identify and explain the four elements of proof necessary for a plaintiff to prove a negligence case. To begin with, when people think of professional liability in healthcare, they usually think of medical practice, a form of negligence. Negligence by definition is known as one of the most common type of malpractice that exists in the healthcare industry. However, in order for a negligence case to be proven, four elements are necessary: Duty of Care, Breach of that duty, Injury and Causation
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Just an update on the DD report, everything went out as planned, the return data request included a checklist that covered the following areas; corporate matters, financial statements, tax/governmental reports and compliance, personal property, contracts and agreements, real property, intellectual property, insurance, litigation, affiliate transactions or arrangements, and environmental protection. I realize some of these areas may not apply to this particular company, but I wanted to make sure
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remedy or seller remedy can be put into a contract. First we have the buyer which has certain remedies available to him or her if a seller wrongfully refuses to either give title to the real estate or otherwise defaults on an agreement of sale between the parties, unless there is a provision in the agreement that limits the seller’s remedies. Before buyer can do anything, there must be a non-conforming tender (breach of warranty or other breach of contract, such as late delivery. It’s been asked with
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Written Assignment Chapter 8, 9 and 11 Goran Purkovic Davenport University LEGL 710 Prof. Erica Miller Ennis November 7, 2015 Written Assignment Chapter 8, 9 and 11 O’Keefe v. Lee Calan Imports Lee Calan Imports’ product was advertised in Chicago Suntimes with a miss print from Chicago Suntimes’ side. The first thing to many consumers that comes to mind is bait-and-switch, which is deliberately deceptive practice that brings buyers into a physical location of the business when the seller
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2015 CHAPTER 12 CONTRACTS AND SALES Introduction and Formation A contract is a promise or set of promises for breach of which the law fives a remedy, or the performance of which the law in some way recognizes as a duty. The three general sources of contract law for contracts entered into in the United States include common law, the Uniform Commercial Code, and the new sources of law evolving in response to e-commerce. Common Law The common law was the first law of contracts. It consists today
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