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Fire & Casualty #3

QuestionAnswer
1. What course of action does a party to a contract have if the other party is found to ve in a breach (violation) of that contract? Damages for breach, reasonable attorney fees and costs.
2. A representation in an insurance contract qualifies as which of the following? An implied warranty.
3. What does it mean if an agent's license is inactive? The agent cannot transact any insurance business for which a valid active license is required.
4. The ordinance or law exclusion found in property policies such as the commercial property and in Homeowner's policy has the following effect. it excludes the part of the loss resulting from the enforcement of a building ordinance or law.
5. Extra expense insurance covers: The extra expense that a business incurs to continue a business while damage to the premises are being restored.
Created by: f&c
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