Answer:
The personal umbrella policy is excess liability insurance that provides protection against legal liability that is over and above that provided by auto, home, and boat insurance. People with significant assets need an umbrella liability policy to cover lawsuits that can sometimes amount to millions of dollars.
The umbrella policy also has broad coverage that covers some claims that wouldn't be covered at all by home and auto insurance, such as personal injury lawsuits arising from false arrest, slander and libel, or rental units that the insured may own. Not only is the cost of direct damages covered, but also the cost of consequential damages, such as the lost income suffered by a severely injured person because of the injuries. The personal umbrella policy also pays for the legal defense of lawsuits that is in addition to the policy limit for damages. So if you are sued and held liable for $1 million, and your legal costs are $200,000, then a policy providing $1 million of coverage will pay the full claim plus the $200,000 for legal costs.
Explanation:
Answer: The correct answer is "D. Caleb is personally jointly and severally liable along with Anna.".
Explanation: Caleb is personally jointly and severally liable along with Anna. When there is joint and several liability, a person has the right to claim payment of a debt or compensation for damage to any of those responsible or even all of them, without anyone being able to excuse themselves to evade their responsibility.
I would say a
<span>.increase in supply</span>
Answer:
The answers are:
- Professional fees to issue the corporation’s stock
- Commissions paid by the corporation to underwriters for stock issue
- Printing costs to issue the corporation’s stock
Explanation:
Organizational costs are the initial costs incurred when creating a company. They usually include legal and registration fees, promotions, and commissions paid.
After 10/22/2004, organizational cost up to $5,000 can be deducted as an expense. The remaining organizational costs can be amortized over fifteen years.
Answer:
total payment will be $21,000.
Explanation:
The Payment at maturity will include, the Principle amount (amount borrowed) and the Interest that accrued over the period of the note payable.
<u>Total Payment Calculation :</u>
Principle amount = $20,000
Interest ($20,000 × 5%) = $1,000
Total Payment = $21,000