Brian met with an insurance producer to discuss how much life insurance he would need to support his family in the event of his premature death. Both parties agreed that a $750,000 life insurance policy would be sufficient. When Brian stated that he wanted to discuss the matter with his spouse, the producer asked him to sign a general background information form before he left. However, the document was actually an application form that the producer submitted to the insurer. If the insurer then issues a contract, it will be legally unenforceable because
A) Brian did not make a valid offer
B) Brian is not presumed to be a competent party to the contract
C) Brian did not make a valid acceptance of the contract
D) the insurer did not make a valid offer"
Ans: A) Brian did not make a valid offer
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Cause-and-effect diagrams are also known as
A. flowcharts. B. fish-bone charts. C. target specification graphs. D. Pareto charts.
Diane appoints Edward as her agent to sell goods in markets where the highest price can be obtained. Edward sells the goods in a market that is glutted and obtains a low price, even though he could have obtained a higher price in a nearby market by using more care in obtaining the available market information. Edward is liable to Diane for breach of the duty of diligence
Indicate whether the statement is true or false