Legal Interpretations Affecting Contracts (AZ-L)

Madelyn’s house burned down, and the insurance company paid her for the loss. Which of the following best describes the payment for Madelyn’s loss?

In the fine print of Sherrie’s auto policy, it excludes a certain type of accident. However, Sherrie was in that type of accident, and a court ruled that the insurer must pay the claim. This is an example of which legal doctrine?

Which of the following is the best example of a warranty?

Which of the following is the best example of a representation?

Which of the following is NOT an example of utmost good faith?

When asked on a homeowner’s application if she had a dog, Victoria correctly answer “no.” However, she does have a pet wolf at her home. Victoria is guilty of what?

Which of the following would NOT be considered fraud?

Since it is viewed that the insurer has big advantage over the insured when the contract is agreed to, our legal system tends to favor the insured when there is a legal dispute over policy language and how it relates to a specific claim. This legal interpretation is called what?

When someone gives up a legal right, it is known as what?

When someone attempts to prevent (stop) someone else from regaining a legal right that he or she previously gave up, it is known as what?