All of the Following Are Implied Warranties in Ocean Marine

question 30

Multiple Choice

All of the following are implied warranties in ocean marine insurance EXCEPT

• A)seaworthiness.
• B)clear title.
• C)no deviation from planned course.
• D)legal purpose.

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Definitions:

Demand and Supply of Wheat

The relationship between the quantity of wheat buyers are willing to purchase and the quantity of wheat producers are willing to sell at various prices.

Temporary Price

A price set for a product or service for a limited period before it is expected to change.

Surplus

The situation in which the quantity of a good supplied exceeds the quantity demanded, often leading to lower prices.

Shortage

A market condition when the demand for a product exceeds its supply at a specific price.