Bob in Burnaby Called Ed in Toronto and Offered to Sell

question 96

Multiple Choice

Bob in Burnaby called Ed in Toronto and offered to sell him 40 kilograms of smoked salmon at $15 per kilogram. He requested that Ed phone him back by noon the next day. That way, Bob could offer it to someone else if Ed wasn't interested. Instead of phoning, Ed sent a letter of acceptance, in which he said that he would have his agent pick up the fish. On these facts, which of the following is false?

• A) If using the mail was unreasonable, the acceptance could not be effective until it was received.
• B) If using the mail was unreasonable, the acceptance was effective when it was mailed.
• C) The place of formation of the contract, if there was one, was Burnaby if the use of the mails was unreasonable.
• D) The place of formation of the contract, if there was one, was Toronto if the use of the mails was reasonable.
• E) Although a response by phone was requested, a response by mail would be effective if received before noon the next day.

Appreciate the ethical dimensions in insurance applications and claims, including the consequences of misrepresentation.

Distinguish between personal and commercial insurance policies and their areas of coverage.

Understand the concept of beneficiaries within insurance policies and the reasons for their designation.

Analyze the role of insurance in risk management for individuals and businesses.

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Definitions:

Latin Americans

People from countries in Latin America, a region of the Americas where Romance languages (primarily Spanish and Portuguese, and variably French) are spoken.

African Americans

African Americans are a racial or ethnic group in the United States with ancestry from the black racial groups of Africa.

American Indians

Indigenous peoples of the United States, including numerous tribes, each with their own distinct cultures and history.

European Americans

Individuals in the United States who trace their ancestry to Europe.