A Firm Wishing to Insure a Single Shipment of Merchandise

question 4

Multiple Choice

A firm wishing to insure a single shipment of merchandise sent by a common carrier would purchase a(n)

• A)annual transit policy.
• B)trip transit policy.
• C)bailee's liability policy.
• D)equipment floater.

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Definitions:

Procedural Due Process

The requirement that a government must use fair procedures before depriving a person of his or her life, liberty, or property.

Substantive Due Process

The requirement for laws depriving an individual of life, liberty, or property to be fair and not arbitrary.

Basic Fairness

The principle that ensures equitable treatment, justice, and non-discrimination in the processes and practices of individuals and institutions.

Rational Related

Pertains to decisions, actions, or policies that have a logical connection or relevance to the objectives or outcomes they are intended to achieve.