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3 years ago

To be valid and enforceable, insurance contracts must meet which general legal requirements?

Business

1 answer:

liq [111]3 years ago

5 0

Answer and explanation:

There are four (4) legal requirements insurance contracts must meet to be considered valid and enforceable: the contract must have a legal purpose; both parties must have legal capacity to sign the contract; both parties must show proof that they agreed in the terms (benefits and obligations) of the contract; and, there must be a payment agreement for the services to be rendered.

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An appraiser prepared an appraisal report in April 2019. He testified in court regarding the value of the property in January 20

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Answer: April 2024

Explanation:

Based on the information given in the question, at a minimum, the appraiser must retain his workfile till April 2024.

It should be noted that appraisal records should be kept for at least a period of 5 years. In a situation whereby there is a report which is involved in the litigation, then such file must be maintained for a further two years. This is according to the Uniform Standards for Professional Appraisal Practice Record Keeping Rule.

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2 years ago

On July 1, 2020, Whispering Co. pays $13,620 to Metlock Insurance Co. for a 3-year insurance policy. Both companies have fiscal

S_A_V [24]

Answer:

jul-01 Prepaid expenses 13.620

jul-01 Cash 13.620

dec-31 Insurance policy expense 2.270

dec-31 Prepaid expenses 2.270

Explanation:

Paid 1-jul 13620

Three Years 13.620 36 months

Monthly 378 month

Current Year 2.270 6 months

jul-01 Prepaid expenses 13.620

jul-01 Cash 13.620

dec-31 Insurance policy expense 2.270

dec-31 Prepaid expenses 2.270

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3 years ago

Turnbull Co. is considering a project that requires an initial investment of $1,708,000. The firm will raise the $1,708,000 in c

exis [7]

Answer:

The weighted cost of capital for the project which is also the project discount rate is 10.12%

Explanation:

WACC=Ke*E/V+Kd*D/V*(1-t)+Kp*P/V

Ke is the cost of equity of 13.2%

Kd is the cost of debt of 8.7%

Kp is the cost of preferred stock of 9.9%

E is the market value of equity raised of $880,000

D is the market value of debt issued of $750,000

P is the amount of preferred stock sold to investors of $78,000

V is the sum of the market values above=$880,000+$750,000+$78,000=$1708000

WACC=(13.2%*880,000/1708,000)+(8.7%*750,000/1708,000*(1-0.25))+(9.9%*78,000/1708000)=10.12%

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2 years ago

When members of the buying center agree to consider ibm, dell, and hewlett-packard in purchasing new computers because they are

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Identification of vendors

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3 years ago

A/An _______________ fails to meet customers’ minimal requirements, potentially costing you business, even when you perform well

amm1812

Answer:

The correct answer is letter "B": Order Qualifier.

Explanation:

An Order Qualifier represents the minimum features a good or service must meet so consumers can think about purchasing them. Variables that could fall into this category are price, convenience or the product's reputation. If the good or service accomplishes one of those characteristics and is of preference of the consumers, then the firm has an order winner.

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2 years ago

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