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Alinara [238K]
3 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]3 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.

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Money markets are marketsfora.Foreigncurrencies.b.Consumer automobileloans.c.Common stocks.d.Long-term bonds.
Harlamova29_29 [7]

Answer:

e. Short-term debt securities such as Treasury bills and commercial paper.

Explanation:

  • A money market is an organized exchange market and were the participant can lend and borrow short terms high quantity debt security with an average maturity with less than and year. And thus enables the government and other institutions of the short terms securities.
4 0
3 years ago
The relationship between financial leverage and profitability   Pelican​ Paper, Inc., and Timberland​ Forest, Inc., are rivals i
mamaluj [8]

Answer:

Pelican's debt ratio        9%

Timberland's debt ratio 50%

The times interest earned ratio for Pelican  57.5

The times interest earned ratio for Timberland 10.45

C is correct as Pelican has 57.5 times interest earned ratio while Timberland only 10.45 times.in other words,earnings of Timberland is more volatile.

D is also correct ,since it has financial leverage of 50.46% as against Pelican financial leverage of 9.17%

The operating margin for Pelican is 14.76%  while the operating margin for Timberland is 13.8%

Return on total assets for Pelican is 36.9%  and that of its competitor is 34.5%

The return on equity for Pelican 40.6%  and  that of Timberland is 69.6%

C is correct as Pelican is more profitable than Timberland as shown by the higher net profit margin and return on assets

B is correct, even though Pelican is more profitable​ (higher net profit​margin), Timberland has a higher ROE than Pelican due to the additional financial leverage risk.

Explanation:

All of the ratios requested for are found in the attached spreadsheet.

Download xlsx
3 0
3 years ago
The term and supply of economics
guapka [62]
Supply is an economic term that refers to the amount of a given product or services that suppliers are willing to offer to consumers at a give price level at a given period.
4 0
3 years ago
Read 2 more answers
Samuel, a longtime employee of the ABCD Corporation, was injured when he fell off a ladder while stocking widgets at ABDC at the
ozzi

Answer:

Option B. He will win

Explanation:

If Samuel is desiring to sue his employer in a circuit court because he thinks that the employer was negligent then he will have to sue under negligence Act, which says that the employer is obliged to take all necessary precautions and if found negligent then the court may apply contributory negligent theory as well as comparative negligent theory. These two negligent theories means that the employer was partly responsible for injury, which means that this would result in compensation to Samuel.

Hence it is more likely that Samuel will win the case.

7 0
3 years ago
Beacon Food Stores purchased canned goods at an invoice price of $4,000 and terms of 2/10, n/30. Half of the goods had been misl
seraphim [82]

Answer:

The amount paid should be $1,600

Explanation:

The terms of 2/10, n/30 means 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

Beacon Food Stores purchased canned goods at an invoice price of $4,000. Half of the goods were returned immediately to the supplier.

The remaining amount of the invoice that Beacon Food needs to pay is $2,000

Beacon Food pays the remaining amount of the invoice within the discount period. The amount of discount the company is offered = $2,000 x 2% = $40

The amount paid = $2,000 - $40 = $1,600

4 0
3 years ago
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