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- Salma is into catering business and cooks food for small parties. Hina ordered her to cook food for 50 guest for her party on 5th of May 2021 at the lunch time around 2:30 pm. Hina called Salma to cancel the order on 3rd May 2021 at 1:00 pm as the party is cancelled due to some of her personal reason. Can Salma claim Hina for the cost of the raw material that is used in preparations. Answer as YES or NO. Also choose the correct reason. Because Hina is cancelling the order and it is a loss for Salma No Yes Because Hina informed Salma quite ahead of time.Salma is into catering business and cooks food for small parties. Hina ordered her to cook food for 50 guest for her party on 5th of May 2021 at the lunch time around 2:30 pm. Hina called Salma to cancel the order on 3rd May 2021 at 1:00 pm as the party is cancelled due to some of her personal reason. Can Salma claim Hina for the cost of the raw material that is used in preparations. Answer as YES or NO. Also choose the correct reason.Alf sells prestige used cars. In the window of his office showroom Alf displays a whiteboard. On January 20 Alf wrote on this board: • “2015 Ferrari, just arrived, mint condition, £50,000. Special offer • 2015 Porsche, just arrived, like new, £40,000”. Question Which TWO of the following statements are correct? A In relation to the Ferrari the statement on the whiteboard is an invitation to treat B In relation to the Ferrari the statement on the whiteboard is an offer C In relation to the Porche the statement on the whiteboard is an invitation to treat D In relation to the Porche the statement on the whiteboard is an offer Question On January 21 Benz came into the showroom and offered Alf £400,000 for the Ferrari. Alf told Benz that he would consider his offer and get back to him. On January 22 Alf phoned Benz and said he would definitely accept £450,000 for the Ferrari. Benz requested time to think about his decision. Alf agreed he would hold the offer to Benz open, and not accept an…
- One of three tenants in your insured’s rented triplex, sets fire to his apartment, is charged with arson and jailed. Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the insurer follow to legally cancel the policy? O A) Insurer can cancel in five days by written notice of termination personally delivered and any return premium paid to insured. O B) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date. O C) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail. O D) Policy must remain in force but any additional damage done by the tenant will not be covered."Situation You are the person in charge of ordering computer hardware from Merlin Computers. The items included twenty monitors and ten servers. Unfortunately, the items arrived a month late than the promised date of delivery. On top of that, two of the monitors were found defective. Merlin Computers has been notified about the defects and promised to solve the issue promptly. However, no action has been taken to date. Additionally, there was a mistake on the price quoted in the invoice received. You called them to address the matters, but no one could find a record of your order. Task Write a complaint email within 220 words to Merlin Computers about the matters. Your email should: 1. have a concise subject. 2. state the problems in detail. 3. state the actions needed to be taken by Merlin Computers. 4. reflect professional tone.Josh has a health insurance policy with a $2,500 deductible, $5,000 out of pocket limit, and 80/20 coinsurance clause. He had total medical bills of $20,000 for the policy period. How much does the insurer have to pay? $5,000 $14,000 $6,000 $15,000
- 1. X borrows money from a bank memorialized by a written loan agreement. Z orally promises the banker he will guarantee the loan. a) Z's promise is probably unenforceable in court, a collateral promise must be in writing. b) Z will have to pay the loan if X defaults. c) Collateral agreements need not be in writing to be enforceable in court. d) All of the above30 - I. Specific dateII. After a certain period of time from the date of issueIII. Payable after a certain period of timeIV. Payable when seenIn case of existence of the above maturity types, an interest requirement can be imposed on the policy?A) Only IIIB) I and IIC) I onlyD) AllE) III and IV10. You were in a dilemma when you received a claim and request for adjustment from Ahlam who is one of your main customers. Ahlam was clearly at fault, but you know that if you refuse her claim, you will not only lose her but also her friends and followers on social media who will hear only one side of the story. As a result, you decide to grant Ahlam her claim and to grant her the adjustment she requested. For your reply to be effective, it must: * A.Point fingers to a third party who was responsible for this unpleasant situation. B.Imply that you will grant all of Ahlam’s claims to keep her satisfied always. C.Make an exaggerated apology so Ahlam can excuse you. D.Educate Ahlam about steps needed to avoid similar outcomes in the future. E.Make an exaggerated apology so Ahlam doesn’t give a negative review on social media.
- Statement 1: A warranty is a written guarantee issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary, within a specified period of time. Statement 2: Estimated warranty liabilities can be accounted for under accrual and expense as incurred approach. Both statements are correct. Only the second statement is correct. Neither of the statement is correct. Only the first statement is correct.The drawer of the cheque shall object its payment if: O The holder wanted to He/she wanted to O The cheque is lost The endorser wanted toOne option for coverage for flood, earthquake, and possible other loss exposures not covered under regular commercial property policies is a difference in conditions (DIC) policy. Which one of the following statements is true regarding DIC policies? DIC policies often require coinsurance as a condition of the property coverage. DIC insurance is not a cost-effective method of obtaining flood and earthquake coverage. DIC forms may offer broader coverage for some perils, and some exclusions may be less restrictive. A DIC policy takes little time to negotiate and prepare when compared to a policy made up of standard forms.