Home owner's Insurance ask, please give support to?
In January, Jan purchased a new home and insured it with an HO3 policy. In March she purchased a fine art valued at $15,000. She called her agent to see if she needed to buy a floater to insure it for full value. The agent assured her that the fine art was covered. Jan’s painting be stolen and the insurance company declined to pay the full $15,000. Which of the following decriminalized and equitable remedies would protect Jan?
Which answer is it?
A. Waiver provisions
B. Reformation
C. Estoppel
D. Parol evidence
Answers:
C.
You have to work these questions by eliminate the most wrong answers first - then the one left, is the RIGHT answer. But you won't slip away your test, until & unless you know WHY the wrong answers are wrong.
**In certain situations, the canon refuses to allow a person to deny facts when another creature has relied on and acted in accordance next to the facts on the basis of the first person's behavior. Jan is relying on the answer by the agent, that it is covered. You need to look up respectively one of these terms, and how it relates to insurance. **
***Jeff and I disagree. I guess you're going to have to look up both vocabulary yourself, and decide.*** Source(s): agent, 21+ years
I'm going with B on this one...reformation have to do with a verbal promise.
The insurance company would claim "D" as the contract contains adjectives the provisions and not verbal promises.
Jeff
Not C...
ESTOPPEL - (estopped) A bar which precludes someone from denying the truth of a certainty which has been determined contained by an official proceeding or by an authoritative body. An estopple arises when someone has done some exploit which the policy of the law will not permit her to deny.
In unshakable situations, the law refuses to allow a human being to deny facts when another person has relied on and acted contained by accordance with the facts on the basis of the first person's behavior.
Estoppel is allowing your tenant to pay envelope their rent late for a period of months as a "favor" and consequently trying to use that to evict them. Yes, eliminate the wrong answers and C is wrong.
Related Questions:
Which answer is it?
A. Waiver provisions
B. Reformation
C. Estoppel
D. Parol evidence
Answers:
C.
You have to work these questions by eliminate the most wrong answers first - then the one left, is the RIGHT answer. But you won't slip away your test, until & unless you know WHY the wrong answers are wrong.
**In certain situations, the canon refuses to allow a person to deny facts when another creature has relied on and acted in accordance next to the facts on the basis of the first person's behavior. Jan is relying on the answer by the agent, that it is covered. You need to look up respectively one of these terms, and how it relates to insurance. **
***Jeff and I disagree. I guess you're going to have to look up both vocabulary yourself, and decide.*** Source(s): agent, 21+ years
I'm going with B on this one...reformation have to do with a verbal promise.
The insurance company would claim "D" as the contract contains adjectives the provisions and not verbal promises.
Jeff
Not C...
ESTOPPEL - (estopped) A bar which precludes someone from denying the truth of a certainty which has been determined contained by an official proceeding or by an authoritative body. An estopple arises when someone has done some exploit which the policy of the law will not permit her to deny.
In unshakable situations, the law refuses to allow a human being to deny facts when another person has relied on and acted contained by accordance with the facts on the basis of the first person's behavior.
Estoppel is allowing your tenant to pay envelope their rent late for a period of months as a "favor" and consequently trying to use that to evict them. Yes, eliminate the wrong answers and C is wrong.
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