Stella Contracts to Purchase Wilma's Horse, Running Cloud, for $10,000

question 34

True/False

Stella contracts to purchase Wilma's horse, Running Cloud, for $10,000. The horse dies soon after the contract is signed, but prior to Stella taking possession of the horse. Stella is still obligated to pay for the horse.

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Definitions:

Group Insurance

An insurance plan that provides coverage to a group of members, usually employees of a company, under a single policy.

Fraud

Deceptive action designed to result in financial or personal gain, often at the expense of others.

Fraud

Deceit or trickery intentionally practiced to gain unfair or unlawful advantage.

Manual Claims Tracking

The process of monitoring and recording insurance claims by hand, without the use of automated software systems.