Shipping Corporation applies to TransInsurance Company for a fire insurance pol?icy on Shipping's warehouse. On the application, Shipping understates the age of the property to obtain a lower premium. When a fire destroys the ware?house, TransInsurance can
A) deny payment, because a fire destroyed the warehouse.
B) deny payment, because of fraud in the application.
C) not deny payment, because a fire destroyed the warehouse.
D) not deny payment, because the application is not part of the policy.
Correct Answer:
Verified
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