When Do Parties Have an Insurable Interest in Goods? Can

question 40

Essay

When do parties have an insurable interest in goods? Can a buyer and seller have an insurable interest at the same time? What considerations should be made regarding insurable interest in making contracts?

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Definitions:

Cognitive Dissonance

A psychological phenomenon where individuals experience discomfort from holding two or more conflicting beliefs, values, or attitudes.

Theory Essence

The fundamental concepts or foundational principles that comprise the core of a theory.

Origins

The point or place where something begins, arises, or is derived from; the background or source.

Theory of Planned Behavior

A theory suggesting that an individual's behavior is directly influenced by their intention to perform the behavior, which is shaped by attitudes, subjective norms, and perceived control.