Miti Mingi Ltd owned a timber yard in Molo with Ksh. 500,000/= worth of timber in stock at any given time. Miti Mingi had insured the timber in the yard, but ceded control of the yard to Kuni Kavu Investments LLP in which Miti Mingi was a principal partner. a) Establish the insurable interest in the matter and whether Miti Mingi can pursue a claim under a policy. b) Identify the factors may vitiate an Insurance Contract and state the consequences of each factor. (4 Marks) (5 Marks) c) Define the terms 'assignment' and 'surrender' as used in an Insurance Contract? Explain the extent of the assignment of an insured's rights under the Policy of Insurance. (6 Marks)