Bosco Bibles sells 500 Bibles to Liberty Christian Academy. Due to the value and importance of the shipment, Bosco Bibles and Liberty Christian Academy want to purchase insurance to cover the Bibles while in transit for delivery and specify it in the contract itself. Which statement below is correct according to the UCC?
A) This would be considered overlapping insurance and the UCC does not allow it.
B) This would be considered overlapping insurance and the UCC does allow it.
C) Only the buyer is allowed to purchase insurance on goods and therefore the UCC would not allow it.
D) The UCC would allow the parties to equally share insurance coverage, 50% - 50%.
Correct Answer:
Verified
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