Answer:
The <em>covenant of good faith and fair dealing</em> simply requires all the parties to a contract to deal in an even-handed manner such that one party's action does not frustrate the other or prevent the other from getting the benefits of that contract.
In insurance, this covenant is sometimes captured under the heading <em>Uberrima fides</em>. This is a Latin phrase meaning <em>"Utmost Good Faith".</em>
In insurance, this covenant is legally binding on all parties to ensure they each reveal every information that is material to the acceptance or rejection of the risk (on the part of the Insurer) whilst on the part of the Insured the insurer is required to be explicit regarding the terms of the policy as well as the calculations by which the premium is arrived at.
For example, if an Insurance company is looking at covering someone under it's Life Insurance Policy, the person taking out the contract must disclose whether or not the Insured has any latent health issues which might shorten their lifespan. If there is such a condition, the Insurance company may still take on the risk albeit at a relatively higher rate than a client without such medical conditions.
An Insurance Company may breach this covenant if they delay or refuse to reasonable settle claims due to the Insured. It may also arise if the Insurance company by some technical manipulation intentionally under settles an Insurance claim.
If for instance, a Comprehensive Insurance Policy files a valid claim, the Insurer may be liable for negligence and or intentional wrongdoing.
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Answer:
Arithmetic average is 3.15% and Geometric average is 2.33%.
Explanation:
Answer:
Cost of goods sold = $836
Ending inventory = $315
Explanation:
a) Data and Calculations:
Date Description Units Unit Price Balance
Apr. 1 Inventory 12 $45 $540
Apr. 11 Purchase 13 $47 $1,151 ($540 + 13 * $47)
Apr. 14 Sale (18) $100 $315 ($7 * $45)
Sales revenue = $1,800 ($100 * 18)
Cost of goods sold = $836 ($47 * 13 + $45 * 5)
Ending inventory = $315 ($7 * $45)
b) Under the LIFO (Last in, First out) inventory valuation method, it is assumed that goods that were purchased closest to the selling date were the ones to be sold while those purchased earlier remain in inventory.
A web browser is a software application for accessing information on the World Wide Web.
What are the main parts of a web browser
Answer: ...
Status Bar: ...
Address Bar: ...
What components are in each part
Motherboard. The motherboard is an important computer component because it's what everything else connects to! ...
Power Supply. True to its name, the power supply powers all other components of the machine. ...
Central Processing Unit
What does URL stand for?
the address of a World Wide Web page.
A home page is generally the main page a visitor navigating to a website from a web search engine will see, and it may also serve as a landing page to attract visitors.} The home page is used to facilitate navigation to other pages on the site by providing links to prioritized and recent articles and pages, and possibly a search box
Answer:
B. Check the person's credit history to make sure he or she pays debts on time.
Explanation:
Applying for a loan from a bank is when a person wants to borrow money from the bank for his personal requirements. This is also one of the ways a bank does business, incurring interest while also 'helping out' a person in need.
One factor that banks take into consideration for approving a loan to a person is checking the credit history of that person. This means that the bank will investigate the person's credit score and how often he pays his credit bills. Depending on the pattern of the payment, a bank will be able to understand the dependability of the person for a loan's payment.
Thus, the correct answer is option B.
