Answer:
Pay the claim and the accident occurred during the grace period
Explanation:
Grace period is the period or the set length of the time after the due date during that the payment is to be made without any penalty by the insurer or the person.
The grace period mostly is of 15 days and it is usually involves in the insurance contact and the mortgage loan.
So, in this case, the insurer forget to pay the premium but on march 19, she met with an accident and broke her leg, then the insurance company will be paying the claim as the accident happened during the grace period.
Answer:
A clause that says Timothy (A construction worker) cannot work as a construction worker within the city for fifteen years once he leaves the company is Legal because the employer can add any constraint to the agreement.
Explanation:
The provisions of employment contracts usually include an explanation of compensation, penalties and in peculiar cases post-employment clause.
Post-employment clause usually comes with additional benefits like payment of severance.
Enforcing an employment contract varies according to state laws. For this reason, before entering into a written employment contract, clean employee has to be clear on the terms and provisions of the contract because once you append your signature to any provision stipulated by the employer in the contract, it is binding.
Post-employment restrictive covenants are only useful to the employer if they can be enforced. Continued payment of severance often provides the employer with leverage when trying to enforce restrictive covenants in an employer's contract.
Generally, the employer and employee must be in compliance with the employment contract.
Answer:
$35,000
Explanation:
Since this is an operating lease (short lease term, no transfer of ownership, and low present value of lease payments), the lessor has to record a depreciation expense, but the lessee only considers lease payments as operating costs (no depreciation expense or lease liability should be recognized).
Depreciation expense per year under the straight line method = asset cost / useful life = $280,000 / 8 years = $35,000