What is the doctrine of utmost good faith? What situations arise out of its application? Explain
What will be an ideal response?
The doctrine of utmost good faith raises the degree of honesty in insurance contracts above normal business contracts. Representations, concealments, and warranties arise. Representations, when false and material, allow the company to avoid payment. Material concealments do the same as well as breaches of warranties.
Business
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Different personalities and skills of salespeople will lead to a company's failure in all foreign countries
Indicate whether the statement is true or false a. True b. False
Business
Organizations, in order to be globally successful, must be viewed as portfolio of:
A) activities. B) businesses. C) competencies. D) products. E) policies.
Business