Why is an insurable interest required for the enforcement of an insurance contract?

Question:

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

Step by Step Answer:

Related Book For book-img-for-question

Business Law Text and Cases

ISBN: 978-1337374491

14th edition

Authors: Kenneth W. Clarkson, Roger Miller, Frank B. Cross

See More Books

Question Posted: May 26, 2017 10:01 AM

See More Questions

a. Explain the meaning of an insurable interest. b. Why is an insurable interest required in every insurance contract?
What is an insurable interest? When must an insurable interest existat the time the insurance policy is obtained, at the time the loss occurs, or both?
What is an insurable interest? Why is it important?
Lauren Smith was relaxing after work with a colleague at a local bar. After a few drinks, she began expressing her feelings about her company's new control initiatives. It seems that as a result of...
Locate the centroid of the beam?s cross-sectional area. 50 mm 50 mm, 75 mm---75 mm- 25 mm 100 mm 25 mm 25 mm
Whispering Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. $16 Date Transaction 1/1 Beginning inventory 2/4 Purchase 2/20 Sale 4/2 Purchase...
Consider a multiple-regression model for a response y with one quantitative independent variable x1 and one qualitative variable at three levels. a. Write a first-order model that relates the mean...
Tingham Village issued 500 five-year bonds on July 1, 2012. The interest payments are due semiannually (January 1 and July 1) at an annual rate of 6 percent. The effective interest rate on the bonds...
Question 4 The divisional manager of a division in A&B Co. is in the midst of proposing a capital budget for 2021. Projects 1 - 4 below, all of which have equal risk are being considered: Project 1...
FFP Operating Partners, L.P. (FFP Operating) operates a number of convenience stores and gas stations. FFP Operating executed 31 promissory notes in favor of Franchise Mortgage Acceptance Company...
Under no circumstances should a local government be able to condemn property in order to sell it later to real estate developers for private use. Explain
Whenever an insurance company can prove fraud during the application process, it should never have to pay on the policy. Explain
A trench collapsed at a construction site, causing the death of one employee and serious injury to another. The trench was 10-12 feet deep, 3-4 feet wide at the bottom, 13 feet wide at the top, and...
Identify at least two business systems that support the development of effective work relationships Briefly explain how each system supports the development of effective work relationships.
Power and Influence Personal Plan - How will you navigate the realms of power and influence? Why is this personal plan important for you? What do you want to achieve? do a table with SMART goals -...
A single-stage trickling-filter plant is proposed for treating a dilute wastewater with a BOD concentration of 170 mg/L. The plant is located in a warm climate, and the minimum wastewater temperature...
For the first assignment for this course, compose a written document that contains the following: A description and assessment of your past experiences with policy and program planning, either your...
What are the key motivators driving consumer purchasing decisions in our industry? How do consumers perceive our brand compared to competitors, and what factors influence brand loyalty?
Truculent is if youre cruel or fierce. Criticize the following definitions in light of the eight rules for lexical definitions:
Will the prediction interval always be wider than the estimation interval for the same value of the independent variable? Briefly explain.
Lee Dennegar and Mark Knutson lived in Dennegars house in Raritan, New Jersey. Dennegar paid the mortgage and other household expenses. With Dennegars consent, Knutson managed their households...
Warren Davis lived with Renee Brandt in a house that Davis owned in Virginia Beach, Virginia. At Daviss request, attorney Leigh Ansell prepared, and Davis acknowledged, a durable power of attorney...
Warren Davis lived with Renee Brandt in a house that Davis owned in Virginia Beach, Virginia. At Daviss request, attorney Leigh Ansell prepared, and Davis acknowledged, a durable power of attorney...
Read the following and then answer the questions below:September 12: A Brisbane business offers by letter to sell 500 tyres to a New Zealand company. The Brisbane company does not specify a method of...
Fred returns home from work one day to discover his house surrounded by police. His wife is being held hostage and threatened by her captor. Fred pleads with the police to rescue her and offers...
Would like you to revisit one of these. Consideration must be clear and measurable.if you can't measure it then how can you show it has / has not been done?How can you sue someone for breach of...

Why is an insurable interest required for the enforcement of an insurance contract?

Question:

Step by Step Answer:

The existence of an insurable interest is a primary concern in determining lia...View the full answer

Business Law Text and Cases

Students also viewed these Business Law questions