Which of the following statements is true about an insurable interest?
A)It is not relevant when an insurable interest is created.
B)Both the buyer and seller can insure themselves for potential damage to goods
C)Only the seller can insure itself for potential damage to goods.
D)An insurable interest is the right to insure goods in one's possession.
E)Only the buyer can insure itself for potential damage to goods.

Question

Quizplus · Accepted Answer

A)An insurable interest is the right to insure the goods against any risk exposure
such as damage or destruction.When an insurable interest is created in the goods is important.Both the buyer and the seller can insure themselves for potential loss,in the event that the goods are damaged or destroyed at some point in the transaction.
B)An insurable interest is the right to insure the goods against any risk exposure such as damage or destruction.When an insurable interest is created in the goods is important.Both the buyer and the seller can insure themselves for potential loss,in the event that the goods are damaged or destroyed at some point in the transaction.
C)An insurable interest is the right to insure the goods against any risk exposure such as damage or destruction.When an insurable interest is created in the goods is important.Both the buyer and the seller can insure themselves for potential loss,in the event that the goods are damaged or destroyed at some point in the transaction.
D)An insurable interest is the right to insure the goods against any risk exposure such as damage or destruction.When an insurable interest is created in the goods is important.Both the buyer and the seller can insure themselves for potential loss,in the event that the goods are damaged or destroyed at some point in the transaction.
E)An insurable interest is the right to insure the goods against any risk exposure such as damage or destruction.When an insurable interest is created in the goods is important.Both the buyer and the seller can insure themselves for potential loss,in the event that the goods are damaged or destroyed at some point in the transaction.

Which of the Following Statements Is True About an Insurable