The Court applies a subjective test to determine what a reasonable person would have thought the words used in the contract meant
Indicate whether the statement is true or false
FALSE
You might also like to view...
In industrial marketing situations, ________ are often used as beta test sites, where new products are tested and debugged
A) innovators B) early majority C) late majority D) laggards
The _____ standard was developed for devices that communicate with each other within a short range of up to 10 meters (33 feet) in the office, at home, and in motor vehicles.
A. Wi-Fi B. Bluetooth C. WiMAX D. MBWA
Because of ________, a company cannot make its product illegally similar to a competitor's already established product
A) anti-monopoly laws B) patent laws C) the Consumer Product Safety Act D) product warranties E) product liability
Pamela applies for a life insurance policy with Forever Young Insurance Company. When completing the application form about past surgeries, Pamela forgot about a past outpatient surgery when she had an infected hang-nail removed and her toe treated. One year after issuing the policy, Pamela died suddenly from a brain aneurysm. Forever Young denies payment under the policy based on
misrepresentation. If Pamela's sister, Paula, sues Forever Young, she will most likely a. win, because once an application has been accepted, an insurer may not use a misrepresentation on the application to avoid liability. b. win, because Pamela's misrepresentation was not a material fact and did not increase Forever Young's risk in insuring Pamela's life. c. lose, because Pamela's application contained a misrepresentation of material fact. d. lose, because an insurer can always use any misrepresentation on an application to avoid paying.