Match the Term with Its Definition

question 74

Multiple Choice

Match the term with its definition.
-Coverage that provides benefits to a firm upon the death of key personnel

• A)business interruption insurance
• B)funds transfer fraud
• C)indemnification clause
• D)key-person life insurance
• E)personnel risks
• F)reasonable (prudent person) standard
• G)torts
• H)workers' compensation insurance
• I)workers' compensation legislation

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Definitions:

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields, safeguarding creators' rights to their inventions, writings, music, and brands.

Limited Partners

Investors in a limited partnership who provide capital but have limited liability and are not involved in day-to-day management.

Admission

A statement made in court, under oath, or at some stage during a legal proceeding, in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

General Partners

Owners of a partnership who have unlimited personal liability for the debts of the business and participate in its operations.