It Came to Your Attention That Your Great-Grandmother Had Signed

question 51

Multiple Choice

It came to your attention that your great-grandmother had signed a contract pursuant to which she would be paying $5000 for an electronic organ that retails in reputable stores for $3000.Furthermore,the interest being charged is 18%,even though today's rate fell to a 20-year low.This debt is totally out of line with her pension income.It is apparent that she was misled by the door-to-door salesperson who came to her home.On these facts,which of the following laws is the most likely to help her?

• A)non est factum
• B)misrepresentation only
• C)unconscionability only
• D)both unconscionability and misrepresentation
• E)undue influence only

Grasp the requirements for an insurable interest and how it impacts the ability to procure and maintain insurance coverage.

Understand the role of arbitration clauses in insurance policy disputes and how disputes can be resolved without court intervention.

Recognize different types of insurance coverage (e.g., casualty, liability, property, life) and the specific risks they address.

Understand the concepts of appraisals, binders, and conditions affecting the validity of insurance policies, including misrepresentations and non-disclosure.

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Definitions:

Line Voltage

The voltage measured between any two lines in a multi-phase electrical power system, often higher than the voltage from any one line to neutral.

Phase Voltage

The voltage measured in a single phase of a multi-phase system, often in a three-phase electrical system, relative to neutral.

Alternator

A machine used to generate AC by rotating conductors through a magnetic field.

Capacitance

The ability of a system to store an electrical charge per unit voltage, represented in farads.