You Have Liability Only Coverage on Your Car

question 119

Multiple Choice

You have liability only coverage on your car.It was damaged in the parking lot by a hit-and-run driver.What coverage do you have for your damages?

• A)Their collision coverage
• B)Their liability coverage
• C)Your liability coverage
• D)None of the above

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Definitions:

Business Judgement Rule

A legal principle that protects corporate directors and officers when making business decisions, assuming they act in good faith and in the best interest of the corporation.

Officers

Individuals appointed by a company's board of directors who are responsible for managing the daily operations and executing the strategic plans of the corporation.

Directors

Individuals elected by shareholders to oversee and make policy decisions for a corporation, setting its strategic direction and ensuring governance.

Majority Vote

A decision-making process where the outcome is determined by more than half of the votes cast by a group.