Ted's insurance claim was denied by XYZ Insurance Company. When Ted inquired why the claim was denied, he was told to, "Read the exclusion on page 5 of the policy." Ted read the exclusion
In his opinion, the exclusion was poorly worded and vague. If a court of law agrees with Ted's assessment of the exclusion, Ted may still be able to have his claim paid by the insurer because insurance contracts are
A) personal contracts.
B) unilateral contracts.
C) aleatory contracts.
D) contracts of adhesion.
Answer: D
You might also like to view...
Identify the correct statement about organizational marketing
A) Industrial products are normally less complex than consumer products. B) Industrial companies are more likely to be customer focused rather than product focused. C) Organizational marketing is also known as B-to-B marketing. D) Most of the industrial marketers advertise on television.
What is meant by the OLAP term "consolidation"?
When contemporary leadership researchers analyze conversations between leaders and subordinates in a workplace, they are using which approach in their studies?
A. trait approach B. discursive approach C. do as the leader wishes approach D. authentic leader approach
If a company purchases equipment costing $3300 on credit, the effect on the accounting equation would be:
A. Assets increase $3300 and liabilities increase $3300. B. Equity increases $3300 and liabilities decrease $3300. C. One asset increases $3300 and another asset decreases $3300. D. Equity decreases $3300 and liabilities increase $3300. E. Assets increase $3300 and liabilities decrease $3300.