If There Were a $22,000 Loss and a $700 Straight

question 41

Multiple Choice

If there were a $22,000 loss and a $700 straight deductible, the insurer would pay:

• A) $700
• B) $21,300
• C) $22,000
• D) $0

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Definitions:

Material Facts

Important details or information that could influence a decision or the outcome of a legal case.

New Partners

Individuals who join an existing partnership, bringing in new capital or skills, and thus altering the partnership structure and possibly its strategic direction.

Majority Vote

A voting outcome where more than half of the votes cast are in favor of a proposal or candidate, leading to its approval or election.

Admission of New Partners

The process of integrating a new individual or entity as a partner into an existing partnership, subject to the partnership agreement and applicable laws.