In a Dispute Regarding an Insurance Claim, If a Term

question 61

True/False

In a dispute regarding an insurance claim, if a term in the written policy is ambiguous, parol evidence is admissible to show the meaning.

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Definitions:

High-priced Rental

Property rental arrangements that are significantly more expensive than the average market rate.

Rent-seeking

Endeavors aimed at earning income by manipulating the economic environment rather than through trade and production of added value.

Monopoly Power

The ability of a single seller to control the market for a good or service, setting prices and output levels.

Government Licensing

A control mechanism whereby a government authority grants permission to individuals or companies to operate within certain industries or professions.