A and B Have Just Signed a Written Agreement for the Purchase

question 4

Multiple Choice

A and B have just signed a written agreement for the purchase by A of B's house.During the negotiations,A made it clear to B that his purchase was conditional on A conducting a building inspection of house within five days of the date of the agreement,which was satisfactory to A.However,this condition is not included in the agreement.In this situation,

• A)evidence of the building inspection would be admissible because it is a collateral agreement,the consideration for which is the agreement of purchase and sale.
• B)evidence of the building inspection would not be admissible because,since this is an agreement for land,the Statute of Frauds applies to bar evidence of the building inspection.
• C)evidence of the building inspection cannot be given because of the parol evidence rule.
• D)evidence of the building inspection would be admissible because it is a subsequent agreement.
• E)evidence of the building inspection would be admissible because it is a condition precedent to the agreement of purchase and sale.

Evaluate the benefits and drawbacks of mutual versus stock life insurance companies.

Explain the significance of premium payment plans and their impact on coverage.

Appreciate the role of group life insurance and its comparison to individual policies.

Understand the significance of truthful information in insurance applications and consequences of misstatements.

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Definitions:

Forward Market

A financial market where contracts for future delivery of goods, assets, or financial instruments are bought and sold.

Foreign Exchange Risk

The potential for financial loss resulting from fluctuations in foreign exchange rates.

Professionals

Qualified individuals who possess specialized knowledge and skills in a specific field.

Eurobond

A bond denominated in a currency other than that of the country in which it is sold.