CAIB 3 EXAM NEWEST ACTUAL
EXAM COMPLETE 200 QUESTIONS
AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
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QUESTION 1: What is the name given to the collection of
written decisions?
CORRECT ANSWER : Case Law
QUESTION 2: Explain the concept of the Rule of Precedent.
CORRECT ANSWER : Current court decisions must follow
those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared.
QUESTION 3: Explain the meaning of the term "damages".
CORRECT ANSWER : Compensation in money for the loss
or damage suffered.
Compensatory damages for bodily injury are an amalgamation of general and special damages, and based on a number of factors which the courts take into account.
QUESTION 4: State four factors that influence the
determination of compensatory damages.
CORRECT ANSWER : 1. extent of financial support
provided by the injured party to his or her family
- social position
- reputation
- financial circumstances
- ability of the plaintiff's legal representative
QUESTION 5: Explain the assumption that lies at the centre
of the Doctrine of Strict Liability.
CORRECT ANSWER : Based on the assumption that certain
activities are so hazardous that, in the event of injury or damage arising out of them, the person conducting the activity shall be presumed to be legal liable
QUESTION 6: Identify two activities that impose strict
liability on the person conducting the activity.
CORRECT ANSWER : The setting off of explosives , the
lighting of fires, the operation of aircraft, the keeping of a dangerous thing on the premises, such as water in a dam or cistern; gas; electricity; wild animals.
QUESTION 7: What is the position of the defendant in a legal
action when the law deems the defendant strictly liable?
CORRECT ANSWER : The defendant has the right to
establish a defense against an action alleging strict liability.
QUESTION 8: What determines if a product is defective?
CORRECT ANSWER : A defective product is one that
contained something that it should not have; or something that should have been there was omitted in its manufacture.
The Sale of Goods Act sets out the contractual responsibilities of sellers for their products. This Statute Law contains a number of implied warranties that form part of every contract for the sale of goods.
QUESTION 9: Identify one implied warranty which is of
significance to sellers of products.
CORRECT ANSWER : fitness of a business's product(s) for
a particular purpose
The Sale of Goods Act also addresses a buyer's responsibility to exercise care as to the suitability and quality of the products purchased.
QUESTION 10: State the exception to this general rule.
CORRECT ANSWER : When a buyer makes known the
particular purpose for which the goods are required, and relies on the seller's skill or judgment, there is an implied condition that the goods will be reasonably fit for such purpose. If they are not, the seller will be liable for damages should injury or property damage result from their use.
Your client, the proprietor of pub, is insured under the Commercial General Liability Policy. Indicate whether or not