Cassie, age 62, paid a life insurer $100,000 in exchange for a life annuity. If Cassie dies before receiving 120 monthly payments from the insurer, the remaining payments will be made to a beneficiary
If Cassie dies after receiving 120 payments, no additional payments are made by the insurer. The annuity option Cassie selected it
A) life annuity, no refund.
B) life annuity with period certain.
C) installment refund annuity.
D) cash refund annuity.
Answer: B
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Elizabeth worked as a salesperson in a carpet store. She was in the midst of divorce proceedings and needed some money. Elizabeth sold her wedding ring. Elizabeth is considered a merchant with regard to the sale of the ring
a. True b. False Indicate whether the statement is true or false
Norwest Trucking Corporation files a suit in a state court against Bob's Service Company (BSC), and wins. BSC appeals the court's decision, asserting that the evidence presented at trial to support Norwest's claim was so scanty that no reasonable jury
could have found for the plaintiff. Therefore, argues BSC, the appellate court should reverse the trial court's decision. Is the appellate court likely to reverse the trial court's findings with respect to the facts? If not, why not? What are an appellate court's options after reviewing a case?
When there is no surviving spouse or child, the next in the order of inheritance are the grandchildren.
Answer the following statement true (T) or false (F)
Seaside Resort, Inc., adopts an alternative dispute resolution (ADR) program. Tess, a current employee, signs an agreement under which arbitration is subject to "Seaside's rules, with the employee to bear all costs of the proceeding." When a dispute arises, Tess refuses to arbitrate. Seaside files a suit to compel arbitration. The court will most likely
A. order arbitration according to Seaside's rules. B. order arbitration but suspend Seaside's rules. C. refuse to order arbitration if a resolution of the dispute is clear. D. refuse to order arbitration if Tess lacks the ability to pay.