MTHEL131 Lecture Notes - Mutual Insurance, Retirement Age, Cpp Investment Board
12 Mar 2014
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Successful business, successful among the people (politically popular) Enjoyed spending time at his country club and got along well with the members. Most members came from money, but richard martin was a self-made man. How can you run such a successful business, yet spend so much time away from the business? : organization, built up business, time management. Has the authority to make decisions in the absence of richard martin. Paid very well, owns a stock percentage of the firm (employment stability, employer security) Risk for martin: lack of documentation, expiry date on the policy. 11th month: william gibbons died, richard martin was devastated. Refuse to pay richard martin, so he sued them. Judge upheld the terms of the contract, ensured martin was paid. Premium: 8% (these are the terms and players in the life insurance contract) Petition was put before the house of parliament. Denied, could not secure enough votes in parliament.
