Which of the Following Is Implied by the Requirement That

question 10

Multiple Choice

Which of the following is implied by the requirement that a loss should be determinable and measurable to be insurable?
I.The loss must be definite as to place.
II.The loss must be definite as to amount.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

---

Definitions:

Voidable Preferences

Transactions made by a bankrupt debtor prior to bankruptcy that can be nullified or undone to ensure fair distribution of assets to creditors.

Antecedent Debts

Debts that were incurred prior to a particular event or transaction.

Involuntary Petition

A legal document filed by creditors to initiate bankruptcy proceedings against a debtor without the debtor's consent.

Non-Profit

An organization whose primary objective is to support an issue or matter of private interest or public concern for non-commercial purposes, rather than earning profits for its owners or stakeholders.