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strojnjashka [21]
2 years ago
7

Q has a traditional whole life policy with a $10,000 face amount, a $5,000 cash value, and a $4,999 policy loan and loan interes

t outstanding. Q will forfeit the policy when the policy loan reaches ________ for failing to pay loan interest on a timely basis.
Business
1 answer:
Vinil7 [7]2 years ago
3 0

Answer:

Reaches or exceeds the cash value.

Explanation:

A traditional whole life policy is an insurance policy or plan that covers the entire life of an individual. It also provides or gives a certain amount to the beneficiaries of the individual in case the individual dies.

A cash value in traditional whole life policy is the amount a person on a traditional life policy receives if he or she decided to quit the life policy as well as forfeit the payment to his or her beneficiaries of he or she dies.

A policy loan is the loan that a person takes from his or her life traditional life policy which must not exceed the cash value of the traditional life policy. A policy loan also comes loan interest that must be paid on a timely basis.

When the outstanding policy loan is higher than the case value of the traditional life policy the insurance company may cancel the traditional life policy.

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Answer:

Jill cannot hold the manufacturer responsible for her injury.

Explanation:

The above question is incomplete as there are several answer options which are listed below;

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• Lexi can hold the manufacturer liable for Jill's injury.

The above answer - Jill cannot hold the manufacturer responsible for her injury, is true according to the rule of privity of contract. The rule states that a person who is not a party to a contract does not have right to sue or be sued and to enforce the obligations arising from the contract, unlike a person who is a party to the contract.

With regards to the above scenario, Lexi, who buys a food processor is the party to the contract here, hence can sue and be sued in case of any injury suffered by her, however, Jill whom food processor was loaned to, is the third party here, hence not covered by the rule of privity of contract.

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What impacts the growth of small business
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Answer:

Variation in size, scope and buoyancy of demand in local markets is likely to affect growth opportunities. ... A business set up to exploit an identified market opportunity would be expected to have stronger growth orientation than one set up as a result of 'push' factors such as a lack of alternative opportunities.

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Helmers Corporation manufactures a single product. Variable costing net operating income last year was $103,000 and this year wa
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Answer:

$64,600

Explanation:

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