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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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Rock bottom purchases its inventory on trade credit with terms of 2/10 net 45. If the firm waits the full 45 days to pay for the
Lera25 [3.4K]

Answer:

The effective annual rate of interest is 23.45%

Explanation:

Effective annual rate of interest=(1+annual interest)^365/t-1

Annual interest =discount rate/100%-discount rate

discount rate here is 2%

annual interest=2/100-2

                         =2.04%

T is the difference between the discount period of 10 days and credit period of 45 days

45-10=35 days

Effective annual rate of interest=(1+2.04%)^(365/35)-1

                                                      =(1.0204^10.42857143) -1

                                                      = 1.2345  -1

                                                       =0.2345

                                                        =23.45%

8 0
3 years ago
______ property refers to property that is the product of any innovative activity, such as a screenplay, a music score, or the c
solniwko [45]

Answer:

Intellectual property

Explanation:

Intellectual property -

It is category of property , which consists of the intangible creations of the human intellect , is referred to as intellectual property.

The example of the Intellectual property are - trade secrets , trademarks ,  patents and  copyrights .

It refers to the outcome of some innovative activity , like music , plays etc.

Hence, from the given information of the question,

The correct term is Intellectual property .

6 0
3 years ago
Typically, the firms' lowest cost source of financing is ____________ as its cost is tax deductible and it also tends to offer t
Finger [1]

Answer:

Debt

Explanation:

Debt is the lowest cost source of financing because the <em>interest</em> return given to holders of debt has a <em>tax shield</em> (tax deductible) that is provided by the Section 11j  of the Income tax Act.

The other sources of finance give a return in form of <em>dividends</em>. Dividends are are not tax deductible hence they attract a huge cost.

6 0
3 years ago
HI Corporation is considering the purchase of a machine that promises to reduce operating costs by the same amount for every yea
Alexus [3.1K]

Answer:

Annual savings = 61,746.

Explanation:

The Net Present Value (NPV) is the difference between the present value (PV) of cash outflows  and PV of cash inflow

At the internal rate of return the PC of annual cash savings will be equal to the investment cost

Initial cost = 211980

PV = annual cash savings = A× (1- (1+r)^(-n)/ r

A=?  r-internal rate of return, 14%, n-number of years- 5

211980 = A  (1- (1.14)^(-5)/ 0.14

211,980 = A× 3.433080969

A= 211,980/3.43308

A= 61746.28619

Annual savings = 61,746.

5 0
3 years ago
If the expected returns of two stocks are the same but the standard deviations of the returns differ, which security is to be pr
serious [3.7K]
What you’re talking about is Beta. Beta is the ratio of how much a stock changes relative to the market as a whole (NYSE, NASDAQ)

A Beta of 2.0 means it changes (up/down) twice as much as the general market (Dow, S & P, NAS), such as the twitchy, hyper reactive tech stocks ( FAANG’s and also boom-or-bust Big Oil). In other words, high Standard Deviations.

A Beta of 0.5 means it changes (up/down) half as much as the general market. Sleepy blue chips such as GE, AT&T or power utilities fall in that category. Low Standard Deviations

Most stocks by definition pretty much track the market (Beta 1.0) so there are a lot of those. Middling Standard Deviations

So…it is dictated by your risk tolerance.
8 0
3 years ago
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