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- If complying with an injunction costs the defendant more than it benefits the plaintiff and transaction costs between the parties are low, there is no possibility of them negotiating an efficient solution and no reason for them to try. True FalseWhich of the following is not a cause for the director of insurance to receive a producer’s license? Failing to comply with an administrative order imposing a child support obligation Having been accused but not convicted of committing a felony Improperly using notes to complete an examination for an insurance license Having an insurance license revoked in another statethe subject is business law A defense to negligence is comparative negligence. True False Torts are civil wrongs. Torts can be crimes too. They are either intentional or unintentional and are made up of elements. Intentional torts have at least three elements: intent, causation and damages. Unintentional torts include negligence and strict liability. Elements of negligence are duty, breach causation and damages. Elements of strict liability include situations involving injury from ultrahazardous activities, failure to control wild animals and product liability. True False
- To maintain an insurance producer license, an insurance producer MUST do which of the following? Complete 15 hours of pre-licensing study requirements Provide the Director of Insurance proof of appointment by at least one insurance company Complete at least 24 hours of course study Provide the Director of Insurance proof that at least one half of the business previously written was controlled businessA real estate firm faces two kinds of employees, those able to sell 10 houses/year, and those able to sell 5 units/year. High-productivity employees are willing to work for $100K/year while low-productivity employees are willing to work for only $50K/year. Which compensation scheme would be able weed out low productivity workers the best? Group of answer choices Offer a salary of $100K. Offer a salary of $75K plus $5K/unit commission. Offer a sales commission of $10K/unit. Offer a sales commission of $20K a unit starting with 6th unit. Offer a salary of $50K plus a sales comission of $10K per unit.A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. If only one bidder values the item at or above the reserve price, that bidder pays the reserve price. An auctioneer faces two bidders, each with a value of either $228 or $304, with both values equally probable. Without a reserve price, the second highest bid will be the price paid by the winning bidder. The following table lists the four possible combinations for bidder values. Each combination is equally likely to occur. On the following table, indicate the price paid by the winning bidder with and without the stated reserve price. Bidder 1 Value Bidder 2 Value Probability Price Without Reserve Price with $304 Reserve Price ($) ($) ($) $228 $228 0.25 $228 $304 0.25 $304 $228 0.25 $304 $304 0.25 Without a reserve price, the expected…
- True or False: Employee compensation in the form of health insurance is currently subject to personal taxation, making it less desirable for people to get health insurance provided by their employer and more desirable for them to purchase it from a private insurance company.A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. If only one bidder values the item at or above the reserve price, that bidder pays the reserve price. An auctioneer faces two bidders, each with a value of either $39 or $104, with both values equally probable. Without a reserve price, the second highest bid will be the price paid by the winning bidder. The following table lists the four possible combinations of bidder values. Each combination is equally likely to occur. On the following table, indicate the price paid by the winning bidder with and without the stated reserve price. Bidder 1 Value Bidder 2 Value Probability Price Without Reserve? Price with $104 Reserve Price? ($) ($) ($) $39 $39 0.25 $39 $104 0.25 $104 $39 0.25 $104 $104 0.25 Without a reserve price, the expected price is…In a product liability claim based on strict liability, the plaintiff must show that the product was “defective” in some way. Describe four types of “defects” that could be the basis for a claim, and give an example of each.
- Which of the following best describes contributory negligence? a. Party A and Party B are at fault. The victim (Party C) can sue both of them at once. b. Party A and Party B are at fault. The victim (Party C) can sue either of them separately. c. Party A is at fault and so is the victim (Party B). Party A is not liable. d. Party A is at fault and so is the victim (Party B). The parties bear cost in proportion to their negligence.Students must search Australian legal databases and find a court decision that has been decided over the past few years. The court decision must be on legal issues that arise on contract law. Once you have chosen a relevant court decision, you must critically review the decision. In critically reviewing the decisions, you must address the following points: - Summarise the facts of the case. - Identify the legal issues - Analyse the applicable laws and discuss the relevant aspectsParker Plaintiff is in a hurry and stops by a convenience store for a drink. The store is out of her favorite brand of soda, so Parker decides to go elsewhere. Before Parker can leave, she is stopped by a store employee that accuses her of shoplifting. The employee escorts Parker to a small room in the back of the store and tells Parker that if she attempts to leave the room, she will be arrested and sent to jail. Parker waits for over an hour before the manager tells her that she is free to go. What advice would you give Parker? Discuss the possible tort claim Parker might have against the store. Be sure to include the elements of the tort and relate those elements to the scenario. If Parker decides to pursue a claim against the store, should she consider a lawsuit, mediation, or arbitration? explain why your choice is the best option.
