Question

In: Operations Management

Hilda signs a contract with Indemnity Insurance Company that intentionally confers a benefit on Hilda’s daughter...

Hilda signs a contract with Indemnity Insurance Company that intentionally confers a benefit on Hilda’s daughter Jackie as the designated beneficiary. Jackie’s rights under the contract will vest

  

A.automatically.

  

B.if she demonstrates her consent to the promise at Hilda’s request.

  

C.if Indemnity attempts to modify the terms of the contract.

  

D.on the occurrence of the event for which the insurance was procured.

A and B are the wrong answer please help me with a specific reason

Solutions

Expert Solution

Answer: If she demonstrates her consent to the promise at Hilda's request.

Explanation: Jackie will get the rights under the contract only if she agrees to the Hilda's request. So, Jackie will become the beneficiary only on the acceptance of Jackie.

keosha answered 2 years ago
Next > < Previous

Related Solutions

Hilda signs a contract with Indemnity Insurance Company that intentionally confers a benefit on Hilda’s daughter...
Hilda signs a contract with Indemnity Insurance Company that intentionally confers a benefit on Hilda’s daughter Jackie as the designated beneficiary. Jackie’s rights under the contract will vest    A. automatically. B. if she demonstrates her consent to the promise at Hilda’s request. C. if Indemnity attempts to modify the terms of the contract. D. on the occurrence of the event for which the insurance was procured.
Hilda signs a contract with an Indemnity Insurance Company that intentionally confers a benefit on Hilda’s...
Hilda signs a contract with an Indemnity Insurance Company that intentionally confers a benefit on Hilda’s daughter Jackie as the designated beneficiary. Jackie’s rights under the contract will vest. A. if Indemnity attempts to modify the terms of the contract. B. on the occurrence of the event for which the insurance was procured.
A not-for-profit hospital signs a contract with an insurance company in which the company agrees to...
A not-for-profit hospital signs a contract with an insurance company in which the company agrees to pay the hospital $9 million in capitation fees for the year July 1, 2017, through June 30, 2018. Between July 1, 2017 and December 31, 2017, the hospital provides services that, at its standard rates, would bill at $5.1 million. Between January 1, 2017, and June 30, 2018, it provides services that it would bill at $4.2 million. For the year ending December 31,...
The Double Indemnity Insurance Company offers an insurance policy to New York visitors. The term of...
The Double Indemnity Insurance Company offers an insurance policy to New York visitors. The term of the policy is for one week and covers the insured against financial losses suffered by being mugged. About 10% of the visitors to New York are mugged within any week period. If the visitor is mugged by a professional, losses totaling $2,000 will occur. If the visitor is mugged by an amateur, losses amounting to $500 will result. Sixty percent of the muggings in...
Five years ago, Debora gave a life insurance with a $750,000 death benefit to her daughter,...
Five years ago, Debora gave a life insurance with a $750,000 death benefit to her daughter, Linda. At the time of gift, the value of the life insurance was $65,000, and Debora paid $10,000 in federal gift tax. Debora passed away this year. What amount will be included in her federal gross estate related to this life insurance policy.
John’s company signs a contract with the city of Monrovia, a town located in the U.S.,...
John’s company signs a contract with the city of Monrovia, a town located in the U.S., to remove all of the gravel in a specific area. The city has performed their due diligence and has determined that the gravel should be removed and foresees no issues in doing so. After surveying the area himself and after accepting the contract, Hurricane Matthew comes into town and quickly leaves a large portion of the gravel underwater and removing it will cost the...
A company has three buildings and the corresponding insurace: () building A is covered by a property Insurance of which maximum Indemnity is $10,000;
A company has three buildings and the corresponding insurace: () building A is covered by a property Insurance of which maximum Indemnity is $10,000; (l) building B is covered by a property insurance of which maximum indemnity is $5,000, and (1) building is covered by a valued policy of which sum insured is $10,000. Unfortunately, all three buldings were damanaged by a covered peril, and the value of each building decreases from $9116 to $1593. How much is the company...
Big Construction Company signs a contract on 1 July 2019, agreeing to build a warehouse for...
Big Construction Company signs a contract on 1 July 2019, agreeing to build a warehouse for Buyer Corporation Ltd at a fixed contract price of $10 million. Buyer Ltd will be in control of the asset throughout the construction process. Big Construction Company estimates that construction costs will be as follows: 2019 2.5 million 2020 $4 million 2021 $1.5 million The contract provides that Buyer Corporation Ltd will make payments on 31 December each year as follows: 2019 $2 million...
An insurance company wants to offer a 3 year term insurance contract to a male aged...
An insurance company wants to offer a 3 year term insurance contract to a male aged 70. This contract pays $1M at the end of the year of death if death occurs during the first three years. Premiums are paid at the beginning of each year. Assume r=.02 (annual compounding), and that one year probabilities of death at age 70, 71 and 72 are 0.024, 0.026, 0.028. What is the minimum annual premium?
Chapman Life Insurance Company is selling a perpetual annuity contract that pays $1000 monthly. The contract...
Chapman Life Insurance Company is selling a perpetual annuity contract that pays $1000 monthly. The contract currently sells for 25,000. What is the monthly return on this investment miracle (Hint: what is the periodic interest rate)? What is the APR?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT