1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alinara [238K]
2 years ago
6

Larry Lee’s 1985 Lamborghini was stolen, and by the time Lee recovered the car, it had been extensively damaged. The car was ins

ured by Farmers Insurance Co. of Washington under a policy providing comprehensive coverage, including car theft. A provision in the policy stated that the coverage for theft damages was subject to certain terms and conditions, including the condition that any person claiming coverage under the policy must allow Farmers "to inspect and appraise the damage vehicle before its repair or disposal." Lee, without notifying Farmers and without giving Farmers an opportunity to inspect the vehicle sold the car to a wholesale car dealer. Farmers then denied the coverage, and Lee brought suit to recover for the damages caused to his car by the theft. Does Lee have a valid claim against the insurance company?
Business
1 answer:
igomit [66]2 years ago
8 0

Answer:

Lee does not have a valid claim against the insurance company.

Explanation:

The insurance company that had Lee as a customer made it very clear that coverage for car damage caused by theft was subject to certain terms and conditions, including the condition that anyone claiming coverage under the policy must allow farmers "inspect and evaluate the damaged vehicle prior to repair or disposal".

Lee did not allow farmers to inspect and evaluate the curriculum. Thus, he broke a clause of his contract with the insurance company, causing him to lose those benefits.

You might be interested in
A firm's current profits are $400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent. I
Valentin [98]

Answer:

A. $21,200,000

B. $20,800,000

Explanation:

A. Calculation to determine The instant before it pays out current profits as dividends

Value of the firm =[(Current profits) × (1 +Opportunity cost of funds)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.06)]÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.06)]÷0.02

Value of the firm= $424,000 ÷ 0.02

Value of the firm= $21,200,000

Therefore The instant before it pays out current profits as dividends will be $21,200,000

B. Calculation to determine The instant after it pays out current profits as dividends

Using this formula

Value of the firm =[(Current profits) × (1 +Constant growth annual rate)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.04)] ÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.04)] ÷ (0.06 - 0.04)

Value of the firm= $416,000 ÷ 0.02

Value of the firm= $20,800,000

Therefore The instant after it pays out current profits as dividends will be $20,800,000

3 0
3 years ago
Banks that are financial intermediaries generate earnings when they facilitate the transfer of money from savers to borrowers by
lesya692 [45]

Answer: True

Explanation:

Financial intermediaries are the institutions they have been put in place like a building society, bank, or unit-trust company, which are charged with the responsibility of holding funds from the lenders so that loans will be made available to people that wants to borrow.

It should be noted that banks that are financial intermediaries generate earnings when they facilitate the transfer of money from savers to borrowers by paying savers a smaller return than they demand from borrowers. This earning is their charges for the service rendered.

6 0
3 years ago
What is the first account number used in the breneman
Kazeer [188]
Either c or d idk man
3 0
3 years ago
Read 2 more answers
For February, sales revenue is $900,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising e
FinnZ [79.3K]

Answer:

Option  A

Total selling expenses for the month of February=$245,600

Explanation:

<em>The selling expenses include all the expenditure incurred in respect of activities revolving around the marketing and distribution of goods to the final consumer.</em>

<em>These expenditures may be fixed or variable in nature</em>

DATA

Sales revenue -  $900,000;

Sales commission - 5%×  900,000 =  45000

Sales manager salaries  -  96,000

Advertising expenses - 80,000

Shipping expenses - 2% × 900,000 = 18000

Miscellaneous selling expenses = 2100 + (1/2× 1%× 900,000) =6600

Total selling expenses for the month of February

= 45000 +  96,000 + 80,000+ 18000 + 6600  = $245,600

Total selling expenses for the month of February=$245,600

6 0
2 years ago
Suppose an increase in interest rates causes rising unemployment and falling output. to counter this, the federal reserve would
weqwewe [10]
Most likely A) increase money supply, because they are capitalism economy. The federal reserve is in charge of all the country's Capitol, or: resources and money.
(but for a country that is more sympathetic to the people it would be B) because it would increase social security nets like welfare)
8 0
2 years ago
Other questions:
  • When walmart gathers information about what target is doing so as to be more​ proactive, walmart is engaged in​ ________?
    15·1 answer
  • Azeem is considering the various options available to him to promote an energy drink, Turbozade, that has decreasing sales volum
    6·1 answer
  • Laws relevant to most marketers include aimed at promoting fair competition and at ____.
    8·2 answers
  • On January 4, 2013, Watts Co. purchased 40,000 shares (40%) of the common stock of Adams Corp., paying $800,000. There was no go
    12·1 answer
  • I'm pretty sure I am about to get kicked off of this site;)
    7·2 answers
  • ​"what has worked for you before?" identify the stage from the five-stage counseling model where an interviewer would most likel
    6·1 answer
  • Elena is the CEO of a small manufacturing firm. She is concerned with meeting the investment objectives of the firm's shareholde
    15·1 answer
  • Suppose you know a company's stock currently sells for $90 per share and the required return on the stock is 15 percent. You als
    8·1 answer
  • Free pts <br>have a nice day​
    8·2 answers
  • 4
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!