Examlex

Solved

Robert Says That He Will Answer His Client's Questions "As

question 111

Multiple Choice

Robert says that he will answer his client's questions "as soon as possible." Robert plans to answer the questions by early next week;his client expects the answers by the end of the day.This misunderstanding results from ________.


Definitions:

Insurance Company's Agent

An insurance company's agent is an individual authorized to sell and manage insurance policies on behalf of an insurance company.

Coinsurance Clause

A provision in insurance policies requiring the policyholder to bear a portion of the costs of a claim, encouraging insured parties to avoid excessive claims.

Replacement Value

The cost to replace an asset or property at its current value, without deduction for depreciation, at the time of loss.

Indemnity

A legal principle involving security or protection against financial liability or loss.

Related Questions