The courts in law systems such as the one in the United States have developed a body of law that serves as precedent for determination of later controversies. This is sometimes called:
A) previous law.
B) common law.
C) equity law.
D) administrative law.
B
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Indicate whether the statement is true or false
A retail company sells agricultural produce and consumer products. The company procures materials from farmers and local producers. This process is an example of ________.
A. internal marketing B. operational management C. inbound logistics D. customer service E. outbound logistics
Patricia has a valid judgment against David, which she now wishes to execute. David has no assets in the state where the judgment was entered. He has now moved to California where rumor has it he owns thousands of acres of beach-front property. Patricia may execute her judgment in California based on what type of jurisdiction?
a. Subject matter jurisdiction. b. Concurrent federal jurisdiction. c. Quasi in rem jurisdiction. d. Diversity of citizenship jurisdiction.
If insurers were to provide indemnification for losses that were deliberately caused, which characteristic of ideally insurable risks would not be met?
A) The loss must be accidental and unintentional. B) The loss must be determinable and measurable. C) The loss should not be catastrophic. D) There must be a large number of similar exposure units.