A shipper obtains a marine (cargo) insurance policy for $25,000 on goods that had a real or

Question:

A shipper obtains a marine (cargo) insurance policy for $25,000 on goods that had a real or market value of $8,000. If the goods are lost at sea, is the insurance company liable for $25,000, $8,000, or nothing?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

International Business Law And The Legal Environment

ISBN: 9781138850989

3rd Edition

Authors: Larry A DiMatteo

See More Books

Question Posted: Nov 25, 2024 02:00 AM

See More Questions

Hi, This subject is financial accounting, here is a short essay type question, approximately 5 paragraphs. ''Drawing on private interest theory, what powers do you believe the Australian Accounting...
1. Make all 16 adjustments on the "Adjusting Journal Entries" tab. Remember to include a description under each journal entry. ABC Corporation Unadjusted Trial Balance December 31, 2014 Credit $...
4) Parktown Realty Inc developed an upscale condominium complex. On October 1, Miranda Wine signed an offer to purchase one of the units. Part of that document said, "This offer is irrevocable by the...
On January 1, Year 2, PAT Ltd. acquired 90% of SAT Inc. when SATs retained earnings were $900,000. There was no acquisition differential. PAT accounts for its investment under the cost method. SAT...
Expert systems can be built based on rules or cases. What is the difference between the two?
Repeat Prob. 9.56 except this time let the odd coincidence be that the static pressure downstream of the shock exactly equals the throat pressure. What is the area where the shock wave stands? sonic...
A shipper obtains a marine (cargo) insurance policy for $25,000 on goods that had a real or market value of $8,000. If the goods are lost at sea, is the insurance company liable for $25,000, $8,000,...
Identify each of the following items as being associated with (a) An AICPA financial statement audit (b) A PCAOB integrated audit (c) Both sets of audit standards _____ AS 5 _____ Must means a...
What is the research question being addressed by the study? "Do Auditors Recognize the Potential Dark Side of Executives' Accounting Competence?"
What are the functions of freight forwarders and what is the relationship between freight forwarders and the exporters?
An insured takes out a marine insurance policy on $50,000 worth of goods but fails to disclose his previous claims history. In fact, the insured had filed claims for loss on eight previous policies...
Is business globalization a good or bad thing? Why or why not?
Why do bottlenecks occur at Jaguar? The main reason is that the work centre at which the bottleneck forms, has less capacity than the work centre before and after it. Advise Jaguar of methodologies...
1. Three houses share exclusive access to a beach. The beach is dirty because trash has washed ashore. A beach clean up exercise costs $100 but since the beach is a common good to the three...
Use Excel to determine the total costs that each operating segment would be accountable for if support costs are allocated using the reciprocal method. (Round answers to 2 decimal places, e.g....
7 Help Save & Exit In its first year of operations a company produced and sold 70,000 units of Product A at a selling price of $20 per unit and 17.500 units of Product B at a selling price of $40 per...
YellowCard Company manufactures accessories for iPods. It had the following selected transactions during 2017. ( Note: For any part of this problem requiring an interest or discount rate, use 10%.)...
Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were $4,562,500, and accounts receivable averaged $437,500. Half of Grunewalds customers paid on the 10th day and took...
Find the volume of the described solid S. A frustum of a right circular cone with height h, lower base radius R, and top radius r -r- --R

A shipper obtains a marine (cargo) insurance policy for $25,000 on goods that had a real or

Question:

Step by Step Answer:

International Business Law And The Legal Environment

Students also viewed these Business questions