question archive 1) Mary and her housemate Nick decide Mary should purchase an insurance policy on her life as part of their joint house plan
1) Mary and her housemate Nick decide Mary should purchase an insurance policy on her life as part of their joint house plan
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1) Mary and her housemate Nick decide Mary should purchase an insurance policy on her life as part of their joint house plan. Nick is named as beneficiary. Mary's housemate, Nick, is a
(A) Intended Creditor beneficiary
(B) Intended Donee beneficiary.
(C) Incidental beneficiary
(D) Delegator beneficiary.
2) Damages awarded in a civil lawsuit to punish the wrongdoer in cases involving wilfiul or malicious misconduct are called.
(A) Money damages
(B) Damages for cover.
(C) Punitive damages.
(D) Special damages
3) Negligence is
(A) A crime
(B) An intentional ton
(C) A failure to exercise reasonable care
(D) Strict liability
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| ans 1 Option B) Intended Donee beneficiary | |
| The donee beneficiary is a person who will receive the payment in the event of the death of insured. The person who takes insurance would name one or more donee beneficiaries to receive the payment. | |
| ans 2 C)Punitive damages | |
| When a wrong, wilful or malacious offence committed by payor, punitive damages are awarded by the court in a lawsuit. | |
| ANS 3 Option C) A failure to exercise reasonable care | |
| When a person fails to exercise the standard care that a similar/reasonable person would have exercised in similar circumstances is negligence | |
