Describe the Two Methods Used to Determine the Amount of Life

question 95

Essay

Describe the two methods used to determine the amount of life insurance needed.

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Definitions:

Consequential Damages

Indirect damages that result not from the breach itself, but from the resultant chain of events following the breach of a contract.

Fraudulent Statement

A false statement knowingly made with the intent to deceive and induce another to act to their detriment.

Good Faith Purchaser

An individual who buys property without knowledge of any prior claims, fraud, or faults in the title, and thus is protected under the law.

Affirmed Contract

An affirmed contract is a contract that has been confirmed or validated by the parties involved or by a court, especially after a challenge of its validity.