zJuan+Guerrero

__Cahpter. 23__
1.) **Insurance** - is a contractual arrangement that protects agaist loss. 2.) **indemnify** - when one party pays to compensate for such harm, that party is said. 3.) **Insurer** - the party who agrees to indemnify. 4.) **Insured** - the party covered or protected. 5.) **Beneficiary** - the recipient of the amount to be paid. 6.) **Policy** - the written contract of insurance. 7.) **Face** Value - policy is stated maximum amount that could be paidif the harm a person is insured agaist occurs. 8.) **Premium** - the consideration for a contract of insurance. 9.) **Risk** - possible loss arising from injury to or death of a person or from damage to property from a specified peril. 10.) **Insurable Interest** - potential to sustain loss is referred. 11.) **Property Insurance** - the general type of insurance intended to indemnify for harm to the insured's personal or real property. 12.) **Casualty Insurance** - Type of insurance that indemnifies for losses resulting from accident, chance, or negligence. 13.) **Exclusion** - Are exceptions. 14.) **Fire Insurance** - type of property insurance that covers the direct loss to property resulting from fire. 15.) **Endorsements** - standard policy and forms may also be modified. 16.) **Coinsurance** - is a clause in a fire insurance policy that requires the insurance to maintain coverage equal to certain % of the total current value of insured property. 17.) **Inland Marine Insurance** - Modeled after insurance covering being transported on the high seas. 18.) **Liability Insurance** - type of casualty insurance that indemnifies against personal injury or property damage claims. 19.) **Automobile Insurance** - variety of coverages may be provided. 20.) **Collision Insurance** - Protects agaist direct and accidental damage. 21.) **Comprehensive Insurance** - Indemnifies against all damage to the insured's car except that caused by collision or upset. 22.) **No-fault Insurance** - requires that parties to an automobile accident be indemnified by their own insurance company regardless of who is at fault. 23.) **Life Insurance** - cantractual arrangement under which an insurer promises to pay an agreeupon amount of money to a named party upon death of a particular person.

1.) The party who agrees to indemnify another is termed the **(a) insurer.** 2.) The face amount of a policy is always paid whenever the covered loss is sustained. **True.** 3.) The risk of any and all financial losses can be covered by insurance. **True.** 4.) Which type of insurance covers loss of or damage to property while it is being transported. **(a) Marine.** 5.) The benefiariary's insurable interest must exist at the time of loss for a life insurance policy to pay. **False.** 6.) An insurable interest in property must exist at the time of loss for a fire insurance policy to pay. **False.**
 * Think About Legal Concepts (pg.364)**

1.) Automobile insurance may be written to indemnify for both casualty and property losses. **True.** 2.) Depreciation is a common exclusion to property insurance coverage. **True.** 3.) Which of the following is not covered in the standard fire policy? **(c) Losses due to inept attorneys.** 4.) A friendly fire that becomes uncontreollable is considered a hostile fire for fire insurance purpose. **True** 5.) A(n) __**omnibus**__ clause extends auto insurance coverage to members of the insured's household. **False**
 * Think About Legal Concepts (pg.369)**

1.) Which of the following indemnifies agaist the cost of medical care necessary to regain physical well-being after illness? **(a) Survivor's insurance**. 2.) Unemployment insurance is provided directly by the Social Security Act. **True.** 3.) A(n) __**incontestability**__ clause prohibits an insurer from refusing to perform due to fraud or misrepresentation after a policy has been in effect for one or two years. **True.** 4.) Double-indemenity 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? **(a) Retirement insurance.**
 * Think About Legal Concepts (pg.373)**

1.) Although insurance is an excellent way to protect against possible loss, certain risk 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 with the consent of the insurer. The right to recover from an insurer a loss that has already been sustained may be assigned by the insured without concent of the insurer. 4.) Coinsurance requires the insured to keep the face value of the policy equal to a certain % (usually 80%) of the current value of the insured property. 5.) The basic purpose of automicle insurance is to provide coverage agaist liability. It can also provide medical payment coverage, and uninsured and underisured. 6.) No-fault insurance, which indemnifies the insured for various losses sustained in an automobile accident regardless of who had legal reponsibility for the accident, is now required by some states. 7.) Federal disability insurance provides monthly benefits for a worker and dependents if a severe, long lasting disability is suffered. 8.) Social security retirement insurance provides monthly benifts for a worker retires at age 62 or later.
 * Concepts in Brief (pg.374)**

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 a 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. **Insurable Interest.** 7.) Indemnifies for loss from personal negligence, chance and accident. **Casualty Insurance.** 8.) Exceptions to insurance coverage. **Exclusions.** 9.) Modification to the standard fire policy made to satisfy individual needs. **Endorsements.** 10.) Requires that, in the event of loss, insureds be indemnified by their own insurance companies. **No-fault Insurance.** 11.) Clause in a fire policy that requires the insured to maintain coverage equal to a certain % of the total current value of the insured property. **Coinsurance.** 12.) Insurance to cover personal injury or property damage claims for which the insured is legally responsible. **Liability Insurance.**
 * Your Legal Vocabulary (pg.374)**

__**Chapter 24.**__ 1.) **Decedent** - person who dies. 2.) **Intestate** - to die without a will. 3.) **Administrator(male)/Administratrix(female)** - court-appointed representative for a decedent. 4.) **Estate** - bundle of ownership rights. 5.) **Testate** - to die with a valid will. 6.) **Will** - legal expression by which a person directs how his or her property is to be distribued after death. 7.) **Testator(male)/testatrix(female)** - maker of a will. 8.) **Executor(male)/executrix(female)** - intestate's personal representative appointed to settle the estate. 9.) **Testamentary intent** - clear intention to make a will 10.) **Testamentary capacity** - testator must know the kind and extent of property involved, persons who stand to benefit, and that he or she is making an arrangement to dispose of his or her property after death. 11.) **Codicil -** is a formal, written, and witnessed amendment. 12.) **Holographic will** - will written and signed entirely by the maker. 13.) **Nuncupative will** - orally made will. 14.) **Escheat** - reversion of property to the state. 15.) **Trust** - legal vehicle used to transfer the immediate control of property to another party. 16.) **Trustee** - legal entity having title to the property named in a trust. 17.) **Settlor** - creator of a trust. 18.) **Beneficiary** - The trustee has a fiduciary duty. 19.) **Inter vivos trust** - trust created during the lifetiem of the settlor. 20.) **Testamentary trust** - trust created after the death of a settlor in accordance with directions in the person's will. 21.) **Charitable Trust** - cretaed for the fulfillment of an altruistic purpose. 22.) **Private trust** - trust created for private reasons. 23.) **Spendthrift trust** - trust created to protect the beneficiary's interest in a property from the beneficiary's creditors. 24.) **Express trust -** trust in which the terms are explicitly stated by the settler. 25.) **Resulting trust** - implied trust formed to hold property for its original owner. 26.) **Constructive Trust** - legal presumption that everyoen has knowledge of facts on public file.

1.) Those who die without a valid will are legally termed to have died interstate. **True.** 2.) If there are no inheritors of the decedent's estate, the property **__escheats__** to the state. 3.) The legal term for anoral will is a(n) **__nuncupative__** will. 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 **(b) six months**
 * Think About Legal Concepts (pg.383)**

1.) A trust terminates at the death of the settlor. **False.** 2.) A trust terminates with the death of the trustee. **True.** 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) **(a) inter vivos trust.** 5.) A charitable trust is created for a(n) **__fulfillment of an altruistic__** purpose. 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 responsibility requiring the highest degree of care and loyalty to the beneficiary. This is referred to as a **(b) legal caretaker's duty.**
 * Think About Legal Concepts (pg.387)**

1.) The basic requirements for a valid, formal will are testamentary intent and capacity, a general knowledge of what is being done, and a signed writing with witnesses. 2.) A will can be revoked or changed at any time prior to the testor's death. 3.) Creditor's right agaist the estate and the right of a surviving spouse to 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 whtsoever in a spendthrift trust arrangement. 6.) A resulting trust is formed when the entity i9ntended to receive the benefit of an express trust cannot do so. The resulting trust is intended to hold the property for its original owner. Note that it 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. 1.) A deceased person. **Decedent.** 2.) To die withouth will. **Intestate.** 3.) Intestate's personal representative (female) appointed to settle the estate. **Administratrix.** 4.) Property of the deceased. **Estate.** 5.) To die with a valid will. **Testate.** 6.) Male maker of a will. **Testator.** 7.) Orally made will. **Nuncupative Will.** 8.) Creator of a trust. **Settlor.** 9.) Trust created for private reasons. **Private Trust.** 10.) Court appointed representative for a decedent. **Administrator.** 11.) Trust created for the fulfillment of an altruistic purpose. **Charitable Trust.** 12.) Trust in which the terms are explicitly stated by the maker. **Testamentary Trust.** 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. **Constructive Trust.** 15.) Trust created during the lifetime of the settlor. **Inter Vivos Trust.**
 * Concepts in Brief (pg.388)**
 * Your Legal Vocabulary (pg.388****)**

1.) No. Because he might had have alzheimer's disease. 2.) Inga had more influence on Marvin. Because she was more interested on the money. 3.) That Igna should not receive anything. An her son should have the option on what to do with it.
 * Case For Legal Thinking (pg. 391)**



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ON WRIT OF CERTIORARI TO THE FLORIDA SUPREME COURT
1. What was the constitutional issue surrounding the case?

The court further held that relief would require manual recounts in all Florida counties where so-called “undervotes” had not been subject to manual tabulation. The court ordered all manual recounts to begin at once. Governor Bush and Richard Cheney, Republican Candidates for the Presidency and Vice Presidency, filed an emergency application for a stay of this mandate.

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

Bush was name winner of the Florida's 25 electoral votes. A file was complaint in the Leon County Circuit Court. The Circuit Court denied relief, stating that Vice President Gore failed to meet his burden of proof. He appealed to the First District Court of Appeal, which certified the matter to the Florida Supreme Court. The Supreme Court issue a writ of certiorari to the Florida Supreme Court.

3. What was the outcome of the Supreme Court's decision? The Supreme Courts outcome was that it was in favor of George W. Bush.

4. Were any of the Justices in dissent over the majority opinion? If so, what was their argument? That the Florida Supreme Court's method for recounting the ballots was a violation of the Equal Protection Clause of the Fourtheenth Amendment. otm