This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Insurable Interest. Claude and Mildred owned their home in Lexington and had a fire insurance policy ... (Read 98 times)

cnetterville

  • Hero Member
  • *****
  • Posts: 547
on: Jun 24, 2018
Insurable Interest. Claude and Mildred owned their home in Lexington and had a fire insurance policy on it. Claude and Mildred contracted with Benjamin to build a new home for them in exchange for cash and transfer of their present home. After conveying the home to Benjamin, Claude and Mildred continued living there and paid both rent and the insurance premium. The fire insurance policy was never assigned to Benjamin. While Claude and Mildred were still living in their old home, a fire damaged it. The insurance company would not pay, claiming that Claude and Mildred had no insurable interest in the property at the time of the loss. Discuss fully how a court will rule.

Question 2

A company that has more than 25,000 worth of business with the federal government and does not state what action will be taken against employees who violate the company's drug-free policy would be in violation of:
 a. the Drug Prohibition Act
  b. the Drug Control in the Workplace Act
  c. the Drug Prevention in the Workplace Act d. the Zero Tolerance Act
  e. none of the other choices are correct


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 24, 2018
Answer to Question 1

Insurable interest
Claude and Mildred have an insurable interest in their home, despite the fact that they had conveyed its ownership to Benjamin, because they had a contractual liability to trade in the house as part of consideration for construction of the new house. The court stated that in general a person has an insurable interest in the subject matter insured where he has such a relation or connection with, or concern in, such subject matter that he will derive pecuniary benefit or advantage from its preservation, or will suffer pecuniary loss or damage from its destruction, termination, or injury by the happening of the event insured against. The court found that there was a direct pecuniary interest in the preservation of the subject property.

Answer to Question 2

e


cnetterville

  • Member
  • Posts: 547
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
Claude Monet, Carnival on the Boulevard des Capucines. Claude Monet, Carnival on the Boulevard des Capucines.
It is important for new employees to know the location of all fire extinguishers. (C) Sweep the area ... It is important for new employees to know the location of all fire extinguishers. (C) Sweep the area ...
The fact that a mother works outside the home has no negative effect on the well-being of her child ... The fact that a mother works outside the home has no negative effect on the well-being of her child ...
The fire triangle and the fire tetrahedron For combustion to occur, three elements must be ... The fire triangle and the fire tetrahedron For combustion to occur, three elements must be ...
Slope Fire Slope Fire
Video: Negative Feedback Regulation of Blood Pressure

For a complete list of videos, visit our video library