AIC 301

AIC 301 EXAM QUESTIONS AND ANSWERS LATEST VERSION (ALREADY GRADED A+) A payment awarded by a court to indemnify an injured party for losses that result indirectly from a wrong such as a breach of contract or a tort. Consequential damages A payment awarded by a court to punish a defendant for a reckless, malicious, or deceitful act to deter similar conduct; the award need not bear any relation to a party's actual damages. Punitive damages (exemplary damages) An insurer's intentional or...

AIC 301 EXAM QUESTIONS AND ANSWERS LATEST VERSION (ALREADY GRADED A+) A legally enforceable agreement between two or more parties. contract The party to a contract making a promise. Promisor The party to a contract to whom a promise is made. Promisee The relationship that exists between the parties to a contract. Privity of contract A person who is not a party to a contract but who benefits from it and has a legal right to enforce the contract if it is breached by either of the contract...

AIC 301 EXAM QUESTIONS AND ANSWERS LATEST VERSION (ALREADY GRADED A+) Material breach of contract Violation of the agreement that would justify a nonbreaching party's termination of the contract. Compensatory damages A payment awarded by a court to reimburse a victim for actual harm. Consequential damages A payment awarded by a court to indemnify an injured party for losses that result indirectly from a wrong such as a breach of contract or a tort. Punitive damages (exemplary damages) ...

AIC 301 EXAM QUESTIONS AND ANSWERS LATEST VERSION (ALREADY GRADED A+) Contract A legally enforceable agreement between two or more parties. Promisor The party to a contract making a promise. Promisee The party to a contract to whom a promise is made. Privity of contract The relationship that exists between the parties to a contract. Third-party beneficiary A person who is not a party to a contract but who benefits from it and has a legal right to enforce the contract if it is breached ...

The act of leaving a dangerous article such as a gun or car with a person who the lender knows, or should know, is likely to use it in an unreasonably risky manner is known as Select one: A. Negligent entrustment. B. Contributory negligence. C. Negligent supervision. D. The dangerous instrumentality doctrine. - ANSWER>>A. Negligent entrustment. There was a large unmarked sinkhole on Charlotte's property, a short distance from a public road. One evening, a police officer chas...