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
Commission paid to an agent as a percentage of the premiums he or she collects on debt insurance (home service insurance, industrial insurance). ...
Professional designation earned after the successful completion of six national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as ocean ...
Endorsement to an existing policy or a separate policy covering loss of rental income to the property owner, caused by the damage or destruction of a building, rendering it unrentable. The ...
Insurance company that restricts its underwriting of risks to one state. ...
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Coverage on an all risks basis for fur garments belonging to customers of a furrier. ...
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