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Lutz took out a standard fire insurance policy on her home from two different
companies. When the house was destroyed by fire, Lutz tried to collect the full amount
from both companies. Will she succeed?
A contract is a mere promise between two or more persons who have the capacity to
contract.
Article 3 of the UCC is the statutory law that governs negotiable instruments.
An implied contract in fact is one that is formed from the actions of the parties.
An agent is never liable on contracts entered into for the principal.
Price fixing is legal if it results in lower prices for consumers.
After a pretrial conference is held and the plaintiff and defendant do not settle, the case
is dismissed by the judge.
The implied warranty of merchantability applies only to merchants who sell to other
merchants.
A(n) ____________________ is a word or symbol used to identify a company or a
product.
Shares of stock may serve as collateral for a loan.
