For an insurance contract, utmost good faith means:
A. The policyowner will be indemnified in case of loss.
B. Each party relies upon the truthfulness of the other.
C. The contract just involves the policyowner and the insurer.
D. Each party is equally responsible for the value of the policy.
Ans: B. Each party relies upon the truthfulness of the other.
Business
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Toyota's quality problems
A. were usually the fault of auto assembly workers. B. were mostly from subcompacts they manufactured. C. will harm its reputation for years. D. did not exist prior to 2009.
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In most situations the seller has a legal duty to disclose facts that might affect the buyer's decision to purchase
Indicate whether the statement is true or false
Business