Principles of Contract and Insurance Law Quiz Test your knowledge of contract & insurance law with questions on offers, consideration, subrogation, and more. Dive into the principles that govern these legal domains!
#1
A proposal to enter into a contract
A statement of fact
A promise to perform a service
An invitation to a party
#2
A formal document
An agreement to exchange something of value
A legal citation
A court decision
#3
A law requiring certain contracts to be in writing
A law prohibiting fraudulent activities
A statute of limitations
A law related to copyright
#4
A type of insurance policy
The transfer of the insured's rights to the insurer
An insurance premium
The process of settling a claim
#5
To allow oral evidence in court
To prevent the introduction of oral evidence that contradicts a written contract
To encourage parties to communicate verbally
To expedite the legal process
#6
The process of deciding whether to accept a risk
The act of signing an insurance policy
A type of insurance coverage
The negotiation of insurance premiums
#7
The idea that only the parties to a contract have rights and obligations under the contract
A principle related to the formation of contracts
The duty of good faith in contractual relationships
The power of a court to interpret a contract
#8
The principle of utmost good faith
The principle of strict liability
The principle of equitable estoppel
The principle of unconscionability
#9
A type of damages awarded to the injured party
An unforeseeable event that excuses a party from performing their contractual obligations
A legal doctrine related to minors entering contracts
A breach of contract remedy
#10
A clause that voids the entire contract
A clause that limits liability
A clause related to payment terms
A clause that guarantees performance
#11
They are synonymous terms
A warranty is a promise about the present or future, while a representation is a statement of fact
A representation is a contractual term, while a warranty is a collateral contract
A warranty is only applicable to real estate contracts
#12
To underwrite insurance policies
To sell insurance directly to consumers
To represent the interests of the insured in obtaining insurance
To regulate the insurance market
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