Definition of "Sample"
Item given or sold to a buyer that establishes a standard of quality by which later products will be judged. Since the uniform commercial code does not distinguish between a sample and a model, a sample may create an implied warranty that all goods will conform to this standard. If other goods shipped later do not meet this standard, the manufacturer may be held liable.
Popular Insurance Terms
Section of the insurance company that administers claims for the losses incurred by the insured. ...
Total earned premiums minus total expenses and losses paid of the insurance company. ...
Under Section 1035 of the Internal Revenue Code, stipulation that the exchange of one life insurance policy for another life insurance policy will generally not result in a recognized gain ...
Section providing protection under three coverages: Coverage E (Personal Liability} coverage in the event a suit is brought against the insured because of bodily injury and/or property ...
Premium charged (and applied on a uniform basis) for property insurance covering properties at multiple locations. This rate is used under a blanket insurance policy instead of using a ...
Sales honor group of property and casualty insurance agents created by the National Association of Professional Insurance Agents. ...
Monthly income payment from a disability income insurance policy made to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident ...
Government reinsurance program that provided coverage for U.S. properties during World War II. Private insurers shared the first layer of coverage, with the government providing ...
If the annuitant dies before receiving total income at least equal to the premiums paid, the beneficiary receives the difference in a lump sum. If the annuitant lives after the income paid ...
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