The buyer and seller of goods cannot simultaneously hold insurable interests in the goods.

Name: The buyer and seller of goods cannot simultaneously hold insurable interests in the goods.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

Both the buyer and seller can have insurable interests in the goods at the same time, especially during the transition of ownership, where the seller might still have an interest until payment is complete, and the buyer has an interest upon agreement to purchase.

The Buyer and Seller of Goods Cannot Simultaneously Hold Insurable