Felipe Bought a Liability Insurance Policy

question 20

True/False

Felipe bought a liability insurance policy.That policy included a clause that excluded coverage for injuries inflicted through "intentional or criminal acts." Felipe deliberately broke a bottle over a store clerk's head during a robbery.Because of the compensatory function of tort law, a court will require the insurance company to pay damages to the victim of the wrong, but it will also give the insurance company the right to sue Felipe for that same amount.

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Definitions:

Federal Deposit Insurance Corporation

A U.S. government agency created to maintain stability and public confidence in the nation’s financial system by insuring deposits, examining and supervising financial institutions for safety, and managing receiverships.

Federal Registration

The process of officially recording something, like a trademark or document, at the federal level for recognition and protection.

State Licensing

The process or requirement by which an individual or business must obtain permission from a governmental entity to carry out certain activities.

Digital Invoices

Electronic versions of invoices that are created, sent, and received through digital means, promoting efficiency and reducing the use of paper.