7. Terry wants the least expensive life insurance policy that he can purchase. What type of insurance (straight life, term, or endowment) would you recommend? Why? What are the disadvantages to the type of insurance that would be least expensive?

8. Larry steals Edward's gold cufflinks and sells them to Thomas for $100. Larry visits Thomas and recognizes the cufflinks. Larry claims them, telling Thomas they were stolen. Thomas also claims them, saying he had no knowledge of the theft and is an innocent purchaser. Who owns the cufflinks? Why?