Magnum Life Insurance Case Summary

Jay is entitled to full compensation of the life insurance policy that occurred as a result of Joleene’s death. This is because Joleene had already paid the first premium of the Life insurance policy. Even if she had submitted the medical examination form, it would have had no connection to her death since the medical examination form would only show internal diseases and disorders or other internal factors. In this case her death was not as a result of any internal factor so the medical examination form cannot come in the way of Jay claiming the compensation from the life insurance policy that Joleene had taken up. It would have been a different case if Joleene had not paid the premium to the insurance company but in this case she had shown her commitment and seriousness to this policy by paying up the premium hence Jay can comfortably claim the compensation from Magnum Life Insurance co. A gift is the volunteer handover of property from one individual to another without the complete valuable consideration (LaMance n. d). There are four main elements to a gift. These are: the capacity of the one giving the gift (donor), acceptance by the receiver, intent and delivery to the receiver (LaMance n. d). The facts suggest that Christine had failed to pay gift tax to her mother Marcella. This would be breaking the terms of the gift tax since …show more content…
This is because the broker is under the lender and the lender contracts the broker to act on their behalf hence the lender had all the right to monitor the activities of the broker. The results could have been different since the lender could have explained the terms better to Sutton who claimed to not have understood the terms of the agreement. There are three limitations a person has on his own land. These are land-use restrictions, height restrictions and finally bulk restrictions (FindLaw n. d). The court should rule I favor of