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BUSI 2601 (73)
Lecture

Oct 9.docx

10 Pages
107 Views

Department
Business
Course Code
BUSI 2601
Professor
Gilles Le Vasseur

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Description
Duty to disclose if someone discloses that they have hemorrhoids then any issue regarding digestion can be excluded Or if you disclose that you have knee issues then anything regarding walkingetc can be excluded All preconditions are excluded and anything that continues the precondition is always excluded If you have a heart precondition if something generates into a heart disease it becomes excludedRider amend a policy Types of insurance life and disability insurance there will be payment based on death or disability Death is an obscure definition in law Property insurance usually known as fire insurancedamage or destruction of material goods and that may include machine breakdownLiability insurance casualty insurancelegally responsible for the damage you cause Chapter 13Agency Agency is the essence of a relationship where one party represents another party in the formation of a relationship Principal represented by an agent and that agent will have relationships with a third party that we often call an outsider in law we call it a third party Ex Employer is the principal and the agent is the employee and the third party is an institution Example Mike Duffy agent CTV principal being pulled over for drunk driving by the authorities third party
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