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Ivanshal [37]
3 years ago
8

An individual has a disability income policy with a Change of Occupation clause when he changes to a new more hazardous job. He

neglects to inform the insurer. What happens if one year later he files a claim when he becomes disabled?
Business
1 answer:
trapecia [35]3 years ago
4 0

Answer: Adjustments will be made on the insured's new hazardous job, and he is covered according to the premium he has paid with relevance to how hazardous his new job is.

Explanation: Since there is a change of occupation clause to the policy, the insured was supposed to inform the insurer to make adjustments for his new occupation with regards to the nature of hazard involved. However the insured didn't do this, the insurer would make his investigations therefore and make his adjustments as necessary to cover the insured with premium paid for previous occupation. If the new occupation is more hazardous, the insured covers with the premium in hand and ignores deficits. On the other hand if new occupation is less hazardous, the insurer covers and also indemnifies the insured for any excess premium paid.

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Notren, Inc., a U.S. company, and SWT, a Singapore company, entered into a contract under which SWT is to ship party supplies to
enyata [817]

Answer:

Choice of forum clause.

Explanation:

In this scenario, Notren, Inc., a U.S. company, and SWT, a Singapore company, entered into a contract under which SWT is to ship party supplies to Notren.

In the contract agreement, one of the terms of states; "Any disputes that arise under this contract will be resolved in the courts of Singapore."

Hence, this contract term is a choice of forum clause.

A choice of forum clause can be defined as a contractual provision in a contract in which the involved parties stipulates the place of jurisdiction, choice of arbitrators, conciliators, or group of arbitrator or conciliators for any lawsuit, litigations, arbitration, or conciliation arising from the particular contract. In this case, the place of legal jurisdiction is the court of Singapore.

Additionally, a contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law. Also, mutual assent is a legal term which represents an agreement by both parties to a contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.

This ultimately implies that, both Notren Inc. and SWT are in a contract as a result of mutual assent between the two (2) parties.

7 0
3 years ago
A critical analysis of a preferred alternative to ascertain its strengths and weaknesses before it is implemented, with the purp
Aleonysh [2.5K]

Answer:

Devil’s advocacy

Explanation:

Devil’s advocacy is a thorough analysis of a preferred alternative to check and test its strengths and weaknesses before being implemented with the purpose of identifying all the faults that might make the preferred alternative unacceptable.

This method helps in determining the dangers of any action taken by an individual or group of persons.

8 0
3 years ago
Read 2 more answers
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginni
Fofino [41]

Answer:

Selling price for Job C $93,300  

Selling price for Job M $78,204

Explanation:

The computation of the selling prices for Job C and for Job M is given below:

But before that following calculations need to be done

Departmental overhead rates:  

Molding 6.50   (2.5 + (36000 ÷ 9000))

Customizing 6.70  (3 + (13320 ÷ 3600)

Particulars          Job C          Job M

Direct materials  $16,700       $9,900

Direct labor cost $23,400     $10,300

Overhead applied:  

Molding               $17,550       $40,950

                      (2700 × 6.50)  (6300 × 6.50)

Customizing       $20,100        $4,020

                     (3000 × 6.70)    (600 × 6.70)

Total manufacturing cost $77,750 $65,170

Add: Markup at 20% $15,550 $13,034

Selling price    $93,300    $78,204

7 0
2 years ago
Which recent president raised taxes when the income tax share of gdp was very low?
alexira [117]

George H.W. Bush firmly said, "Read my lips: no new taxes."

He would continue to be troubled by the words. The top tax rate was increased from 28% under Ronald Reagan to 31% by the Omnibus Budget Reconciliation Act of 1990.

What is Tax??

In order to ensure that taxpayers are paying the proper amount of tax at the proper time and obtaining the proper tax allowances and tax reliefs, tax compliance refers to both policy actions and individual behaviour. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (A person or legal entity) is used by a government organisation to pay for government expenses and other public expenditures (regional, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect.

To learn more about Tax

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7 0
1 year ago
Comparing the life of a company president or ceo with a dishwasher or taxi driver shows us glaring examples of ______.
Ksenya-84 [330]

Comparing the life of a company president or ceo with a dishwasher or taxi driver shows us glaring examples of social inequality.

<h3>What exactly is socioeconomic inequality?</h3>

Social inequality is defined as a scenario in which certain citizens of a country, a region, a section of the world, or both, are disparately or disadvantaged from others who are unfairly privileged. Logically speaking, it is the polar opposite of social equality.

Modern civilizations struggle with social inequality, which is a result of the uneven development of different parts of the world and the imposition of particular ideologies or human value judgments on some people over others. In fact, social inequality is the root of discrimination, which is the practice of treating individuals who are weaker than others in terms of their morals, social standing, or economic standing differently.

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5 0
1 year ago
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