Financial Responsibility Laws Require That Drivers Involved in Accidents Either

question 109

True/False

Financial responsibility laws require that drivers involved in accidents either have a prescribed minimum amount of personal liability and property damage insurance, or prove that they can pay damages up to a certain amount, if found liable for an accident.​

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Definitions:

Primarily Liable

Refers to the party who has the main responsibility to fulfill an obligation or debt in a legal agreement.

Secondarily Liable

Refers to the responsibility that falls on a party only after the primarily liable party has failed to fulfill their obligations.

Accommodation Maker

An individual who signs a loan document as a guarantor without receiving any of the loan proceeds, promising to pay the debt if the principal borrower fails to do so.

Primarily Liable

Being directly and foremost responsible for a legal obligation or debt.