Assignment 2 - Shannon Sterling GBUS204 Assignment #2 1) At...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Shannon Sterling GBUS204 Assignment #2 1) At a fraternity party, George mentions that he is going to learn to hang glide during spring break. Vicki, a casual friend, overhears him, and the next day she purchases a $100,000 life insurance policy on George’s life. George has a happy week of hang gliding, but on the way home he is bitten by a parrot and dies of a rare tropical illness. Vicki files a claim for $100,000, but the insurance company refuses to pay. (a) Vicki will win $100,000 but only if she mentioned animal bites to the insurance agent. (b) Vicki will win $100,000 regardless of whether she mentioned animal bites to the insurance agent. (c) Vicki will win $50,000. (d) Vicki will win nothing. Select the correct answer and explain why your answer is the best answer, and identify and describe the legal principle involved. (d) Vicki will win nothing. Vicki, who had no insurable interest in George’s life, took out the insurance policy as a wager on if George was going to die and wagers are not enforced by law. 2) Kerry finds a big green ring in the street.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.
Ask a homework question - tutors are online