An Elevator Got Stuck Between Floors and Kept Its Occupants

question 13

Multiple Choice

An elevator got stuck between floors and kept its occupants trapped for hours.Which of the occupants was likely to experience the MOST frustration?

• A)The child who was late for school
• B)The husband who was late for breakfast with his mother-in-law
• C)The woman who was late for her job interview
• D)The man who was late for root-canal work at his dentist's office

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Definitions:

Claims

Formal requests or demands for payment or compensation for losses or damages covered under an insurance policy.

Without Recourse

A term indicating that the seller of a financial instrument or property transfers all risk of non-payment or defect to the buyer, absolving the seller of liability.

Specially Endorses

When a negotiable instrument, such as a check, is endorsed by specifying the person to whom it should be paid, creating restrictions on its further negotiation.

Shelter Rule

A legal principle allowing a transferee to obtain the rights of a transferor in a transaction, even if the transferor lacked certain rights, under certain conditions.