Which of the Following Statements About Liability Risks Is (Are)true

question 36

Multiple Choice

Which of the following statements about liability risks is (are) true?
I.Future income and assets can be attached to pay judgments if inadequate insurance is carried.
II.There is an upper limit on the amount of loss.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

Understand the law of demand and how price affects quantity demanded.

Comprehend the characteristics and implications of competitive markets.

Distinguish between movements along the demand curve and shifts of the demand curve.

Identify the factors that cause shifts in the demand curve.

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Definitions:

Actual Authority

The express or implied power given to an agent by the principal, allowing the agent to act on behalf of the principal.

Respondeat Superior

A legal doctrine holding employers liable for the actions of their employees performed within the course of their employment.

Liability

Being under a legal obligation, especially concerning financial debts or fulfilling certain duties.

Torts

Legal wrongs committed against a person or property, excluding breaches of contract and crimes, that lead to civil legal liability.