Which of the following statements is true regarding covered losses under the commercial crime coverage form?
A) Theft committed by business partners of the named insured is covered.
B) Money surrendered as a result of an extortion threat is covered.
C) A loss that results from disclosure of confidential business information, such as a patent to trade secret, is covered.
D) Liability associated with data security breaches is excluded.
Answer: D
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Your bookkeeper is off for the day and you are trying to figure out what her last entry in the journal could be for. Unfortunately, she only recorded the debit side of the transaction as $4,400 to Accounts Payable. It is possible that this debit could correspond to:
a. A purchase of equipment costing $4,400 on credit. b. A payment of $4,400 to a supplier to settle a balance due. c. A $4,400 sale to a customer. d. A $4,400 issuance of the company's capital stock.
Ellipses indicate __________________
a. transition b. lists c. omissions d. creativity
The motion for summary judgment alleges that if all the facts presented in the pleadings are taken as true, the party making the motion would win the lawsuit when the proper law is applied to these asserted facts
Indicate whether the statement is true or false
Which of the following would be the legal result if the event contemplated by a condition precedent failed to take place?
A) The contract may be discharged. B) The contract is declared void. C) The party will be given time to cure. D) The contract will be binding on all the parties.