Dave is an agent for easy pay insurance. easy pay insures only high-quality applicants. dave wanted to earn more commissions, so he sold some policies to applicants he knew were below-average risks. when these policyowners started filing claims, easy pay tried to deny the claims stating that dave had not acted appropriately. which general rule of agency makes easy pay responsible for the claims of the higher-than-average risk policyowners? there is no presumption of an agency relationship. agents should be compensated based on the quality of the business they generate. an agent must have authority to represent the principal. a principal is responsible for the acts of its agents who are acting within the scope of their authority.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Dave is an agent for easy pay insurance. easy pay insures only high-quality applicants. dave wanted to earn more commissions, so he sold ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 - 4 Q. The market is competitive and is in long-run equilibrium with 50 firms in the industry.
Answers (1)
Alpha Corporation reported the following data for its most recent year: sales, $530,000; variable expenses, $280,000; and fixed expenses, $200,000. The company's degree of operating leverage is closest to:
Answers (1)
Which situation is an example of comparative advantage in an international market? Country A decides to grow extra potatoes so they have more to export, while Country B does not.
Answers (1)
Some company executives favor the idea of contract manufacturing using local players, whereas others feel a direct investment strategy would be better. What would most strengthen argument for direct investment?
Answers (1)
Evaluating the decision and the process used for marketing research occurs in which stage of the process? execute the marketing program take marketing actions examine the alternatives evaluate data collection methods present the findings
Answers (1)
New Questions in Business
Jim is a manager of a restaurant. He is very concerned with efficiency and goal accomplishment as well as very intent on making employees happy through lots of participation and open-mindedness.
Answers (1)
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $90,900 and expected direct labor hours of 10,100 for the current fiscal year.
Answers (1)
The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000; beginning inventory $160,000; ending inventory $240,000; and gross profit $600,000.
Answers (1)
MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made.
Answers (1)
Bill signs a check payable to the order of City Bank, filling in the blanks for the amount with the figures "$100" and "One thousand and 00/100dollars." This check is payable in the amount of a. $0. b. $100. c. $1,000. d. $1,100.
Answers (1)