"Cargo" and "Freight" Losses Are the Same Thing in Ocean

question 35

True/False

"Cargo" and "freight" losses are the same thing in ocean marine insurance.

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Definitions:

Personal Liability

The legal responsibility of an individual to settle debts or obligations from their own assets.

Voting Trust

An agreement among shareholders to transfer their voting rights to a trustee.

Cumulative Voting

A system of voting for corporate directors that is designed to benefit minority shareholders by allowing shareholders to multiply their voting shares by the number of directors to be elected.

Cumulative Voting

A voting system used in corporate elections that allows shareholders to concentrate their votes on a single candidate rather than distributing them among multiple candidates.