The Vexing Problem of Vanishing Premiums Has Proven to Be

question 22

Multiple Choice

The vexing problem of vanishing premiums has proven to be an expensive lesson for insurance companies on the doctrine of _____-a Latin phrase referring to the doctrine that the master is responsible for the actions taken by his or her servant during the course of duty.

• A)respondeat superior
• B)reformatio in peius
• C)res ipsa loquitur
• D)restitutio in integrum
• E)res judicata

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Definitions:

Jackson's Re-Election

The successful bid for a second term as President by Andrew Jackson in 1832, demonstrating the strength of Jacksonian democracy.

Second Bank of the United States

A financial institution chartered by the U.S. Congress in 1816, following the War of 1812, to manage the national economy but was met with opposition and eventually ceased operations in 1836.

Compromise of 1850

A package of five bills passed in the United States that aimed to defuse political tensions between slave and free states regarding territories acquired in the Mexican-American War.

Sectional Disputes

Conflicts and disagreements between different regions or sections of a country, often based on economic, cultural, or political differences.