zGustavo+Lucio

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=﻿Ch 23 Vocab= Insurance- a contractual arragemen that protects against loss. Indemnify- when one party pays to compensate for such harm. Insurer- the party who agrees to indemnify. Insured- the pary covered or protected. Beneficiary- the recipient of the amount to be paid. Policy- the written contract of insurance. Face Value- the stated macimum amount that coul be paid if the harm a person is insured against occurs. Premium- teh consideration for a contract of insurance. Risk- the possible loss arising from injury to or death of a person or from damage to property from a specified peril. Insurable Interest- the potential to sustain loss. Property insurance- the general type of insurance intended to indemnify for harm to the insured's personal or real property brought about by perils such as fire, theft, and windstorm. Casulty Insurance- indemnifies for losses resulting from accident, chance, or neglegence. Exclusions- exceptions to coverage that relieve the insurance company from paying. Fire Insurance- covers the direct loss to peroperty resulting from fire, lightning strike, or rmoval from premesis endagered by fire. Endorsements- attached to the plicy and forms to provide for special and individual needs. Coinsurance- a clause in a fire policy that requires the insured to maintain coverage equal to a certain percetage of the total current value of the insured property. Inland Marine Insurance- indemnifies for loss to most personal property while it is being transported across land or inland waterways. Liability Insurance- a type of casualty insurance that indemnifies against personal injury or propety damage claims for which the insured is legally responsible Automobile Insurance- provides liabiltiy and other coverage for the operation of a motor vehicle. Collision Insurance- protects against direct and accidental damage due to a) colliding with another object, such as a tree or bridge abutment, and b) upset, asuch as the overturn suffered by Williams in Whats your Verdict?. Comprehensive Insurance- indemnifies against all damage to the insured's car except that caused by comprehensive insurance, which could occur for any reson, include fire, theft, water, vandalism, hail, and glass breakage. No-Fault-Insurance- requires that parties to an automobile accident be indemnified by their own insurance company regardless of who is at fault. Life Insurance- where insurer promises to pay an agreedupon amount of money to a named party upon the death fo a particular person. Social Insurance- indemnifies persons, at least partially, from the harsh financial consequences of unemployment, dissability, death, or forced retirement.

Ch 24 Vocab
Decedent- the person who dies. Intestate- those who die without a valid will. Administrator or administratix- a personal representative that will take charge of the intestates property. Estate- the property of the deceased. Testator or testatrix- the maker of the will. Executor or Executrix- personal representative that will carry out the directions in the will. Testamentary Intent- the clear intention to make a will. Testamentary Capacity- the maker must know at least in a general way, the kind and extent of the property involved, the persons who stand to benefit, and the he or she is making arrangements to dispose of his or her property after death. Codicil- a formal, written, and witnessed amendment. Holographic Will- a will that was written entirely by the decendent's own hand and signed by him or her. Nuncupative Will- orally made will. Escheats- reverts to the state. Trust- when the trensferee of the property is a separate entity under the law. Trustee- the legal entity that has the title to the subject property. Settlor- the creator of a trust. Beneficiary- the party for whose benefit the trust is managed in accordance with the settlor's wishes. Inter Vivos Trust- a trust created during the lifetime of the creator. Testamentary Trust- a trust created after the death of the settlor in accordance with directions in her or his will. Charitable Trust- a trust created for the fulfillment of an altruistic purpose. Private Trust- a trust created for a private purpose. Spendthrift Trust- protects the beneficiary's interest in the subject property from the beneficiary's creditors. Express Trusts- all of the above trusts. Resulting Trust- the first implied trust, formed when the entity intended to reveive the benefit of an express trust cannot do. Constructive Trust- created to require a person holding property to transfer it to another because retention of the property would be wrongful and unjust enrichment of the holder.

=﻿Think About Legal Concepts Ch 23-1= 1) The party who agrees to indemnify another is termed the -Insurer 2) The face amount of a policy is always paid whenever the covered loss is sustained. -False 3) The risk of any and all financial losses can be coverd by insurance. -False 4) Which type of insurance covers loss of or damage to property while it is being transported? -non of the above 5) The beneficiary's insurable interest must exist at the time of loss for a life insurance policy to pay. -True 6) An insurable interest in property msut exist at the time of loss for a fire insurance policy to pay. -true

=﻿Think About Legal Concepts Ch 23-2= 1) Automobile insurance may be written to indemnify for both casualty and property losses. -False 2) Depreciation is a common exclusion to property insurance coverage. -True 3) Which of the following is not covered in the standard fire policy? -losses do to fire, and losses do to lightning strikes 4) A friendly fire that becomes uncontrollable is considered a hostile fire for fire insurance purposes. -True 5) A(n) ? clause extends auto insurance coverage to members of the insured's houshold. -Omnibus

=Think About Legal Concepts Ch 23-3= 1) Which of the following indemnifies against the cost of medical care necessary to regain physical well-being after an illness? -Dissability and Health Insurance 2) Unemployment insurance is provided directly by the Social Security Act. -True 3) A(n) ? prohibits an insurer from refusing to perform due to fraud or misrepresentation after a policy has been in effect for one or two years. -incontestability 4) Double-indemnity coverage requires the insurer to pay half the face amount of the policy if the death of the insured is accidental. -False 5) Which of the following types of social insurance provides health insurance and hospital insurance for people age 65 and older? -Medicare

=Think About Legal Concepts Ch 24-1= 1) Those who die without a valid will are legally termed to have died intestate. -True 2) If there are no inheritors of the decedent's estate, the property_?_ to the state. -Escheats 3) The legal term for an oral will is a(n) _?_ will. -Nuncupative 4) The insertion of a codicil on a will does not have to be witnessed. -False 5) The typical time for all creditors of the estate to file a claim against it is -six months

=﻿Think About Legal Concepts Ch 24-2= 1) A trust terminates at the death of the settlor. -False 2) A trust terminates with the death of the trustee. -False 3) A resulting trust may be created due to the death of a trust's beneficiary. -True 4) A trust created by the will of a deceased settlor is known as a(n) -Testimentary trust 5) A charitable trust is created for a(n) _?_ purpose. -Altruistic 6) In a spendthrift trust the beneficiary's creditors can utilize the trust's property to satisfy the debts owed them by the beneficiary. -False 7) Is a resulting trust an express trust? -No 8) The two types of implied trusts are the private trust and the spendthrift trust. -False 9) The trustee has a resposibiltiy requiring the highest degree of care and loyalty to the beneficiary. This is referred to as a - Fiduciary duty =﻿Concepts in Brief Ch 23= 1) although insurance is an exellent way to protect agianist paossible loss, certain risks such as that of doing business cannot be covered. 2) losses covered by a fire insurance policy will be indemnified only upon a showing that they were most likely caused by a hostile fire. 3) A property or casualty insurance policy can be assigned only wiht the consent of the insurer. The right to recover from an insurer a loss taht has already been sustained may be assigned by teh isnsured wihtout consent of the insurer. 4) Coinsurance requires the unsured to keep the face value of the policy equal to a certain percentage (usually 80%) of the current value fo the insured property. 5) The basic purpose of automobile insurance is to provide coverage against liabiltiy. It can also provide medical payments coverage, collision and comprehensive coverage, and underinsured coverage. 6) No-fault insurance, which indemnifies the insured for vaurous losses sustained in an automobile accident regardless of who had legal responsibilty for the accident, is now requiered by some states. 7) Federal disabilty insurance provides monthly benefits for a worker and dependents if a severe, long lasting disabilty is suffered. 8) Social security retirement insurance provides monthly benefits for a worker and dependents when the worker retires at age 62 or later. =Concepts in Brief ch 24= 1) The basic requirements for a valid, formal will are testamentary intent and capacity, a general knowledge of what is being done and signed writing with witnesses. 2) A will be revoked or changed at any time prior to the testator's death. 3) creditors;s rights agianist the estate and the rights of a surviving spouse to a share of the estate may not be defeated by a will that attempts to give the property to others. 4) In essence, a trust can be created to accomplish any conceivable legal purpose. 5) The beneficiary can have no control whatsoever in a spendthrift trust arrangement. 6) A resulting trust is fomed when the entity intended to reveive the benefit of an express trust cannot do so. The resulting trust is intended to hold the property for its original owner. Note that if differs from a constructive trust, which is imposed on someone wrongfully holding the property of another but which is also imposed to benefit the true owner. =Your Legal Vocabulary ch 23= 1) To make good a loss- indemnify 2) Party who will indemnify if loss occurs- insurer 3) Stated maximum amount that can be paid under policy- face value 4) Consideration for a contract of insurance- premium 5) The potential loss that has been insured against-risk 6) Potential to sustain loss due to the covered risk- insurabel interest 7) Indemnifies for loss form personal negligence, chance, and accident- property insurance 8) Exceptions to insurance coverage- exclusions 9) Modification to the standard fire policy made to satisfy indiviual needs-endorsements 10) Requires that, in the event of of loss, insured be indemnified by their own insurance companies- No Fault Insurance 11) Clause in fire policy that requires the insured to maintain coverage equal to a certain percentage of the total current value fo the insured property- coinsurance 12) Insured to cover personal injury or property damage claims for which the insured is legally responsible- liability insurance

=﻿Your Legal Vocabulary Ch 24= 1) A deceased person- decedent 2) To die without a will- intestate 3) Intestate's personal representative (female) appointed to settle the estate- administratix 4) Property fo the deceased- estate 5) To die with a valid will- testate 6) male make of a will- testator 7) Orally made will- nuncupative 8) Creator of a trust- settlor 9) Trust created for private reasons- private trust 10) Court appointed representative for a decedent- administrator or admninistratix 11) Trust created for the fulfillment of an altruistic purpose- charitable trust 12) Trust in which the terms are explicitly stated by the settler- express trusts 13) Will written and signed entirely by the maker- holographic will 14) Legal vehicle used to transfer the immediate control of property to another party- trust 15) Trust created during the lifetime of the settlor- inter vivos trust

=﻿Case for Legal Thinking Ch 24= 1) Did the decedent have testametary capacity? - **The decedent did not have testamentary capacity because after his first wife's death he began to drink and act very differently than usual. Also many experts testified that he was showing signs he may have had early senile degeneration or Alzhiemer's Disease when he made the will in question.** 2) Did the decedent act of his own free will in cutting out his son and the son's family or was Inga's influence too great? - **He probable did not act of his own free will, Inga was only with him for his money and could have taken advantage of his early senile degeneration or alzheimer's disease and told him to write what she wanted him to.** 3) How should the court rule in this case? -**The court should rule in favor of the son, because too much evidence leads to the conclusion the father did not have the testamentary capacity to make a will.**



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Project Number 4: Capacity Project Chapter 4 of your student text detailed the role of the US Supreme Court and indicated that the Court's most important function is the exercise of its appellate jurisdiction. The Supreme Court will ussue a writ of certiorari to the last court that heard a case when they believe that a specific case contains a constituinal issue important enough to be decided by the Supreme Court. Research a case where the Supreme Court issued a writ of certiorari and answer the following questions: =**Miranda v Arizona**=
 * 1. What was the constitutional issue surrounding the case?**

The issue was that Ernesto Miranda was not read his constitutional rights, when he was questioned by the police, and signed a confession to kidnap and rape


 * 2. List the courts (in sequential order) that heard the case. To what court did the Supreme Court issue a writ of certiorari?**

Miranda v Arizona went from State court to Supreme State court to the US Supreme court. Thr writ certiorari was issued from the Arizona State Supreme Court.


 * 3. What was the outcome of the Supreme Court's decision?**

The US Supreme court ruled in favor of Miranda because the police had violated his rights when they questioned him.


 * 4. Were any of the Justices in dissent over the majority opinion? If so, what was their argument?**

MR. Justice White, Mr. Justice Harlan, were in dissent over the majority. Justice Harlan's argument was that if they give the suspects these rights it would discourage them from confessing at all. Justice White's argument was that the Fifth amendment only protects against self-incrimination if the police made him confess, so the police had not really violated his constitutional rights.

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