Although a Contract May Contemplate the Commission of a Crime

question 14

Multiple Choice

Although a contract may contemplate the commission of a crime, it may still be deemed to be illegal because it is contrary to

• A) the criminal code.
• B) moral standards.
• C) societal standard.
• D) public sentiments.
• E) public policy.

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Definitions:

Insurable Interest

Insurable interest exists when an individual or entity stands to suffer a financial loss or certain types of loss from the damage, loss, or destruction of the property or the life insured.

Document of Title

A legal document evidencing a person's legal right to control the disposal of goods, such as a bill of lading or warehouse receipt.

Bailees

Individuals or entities entrusted with temporary possession of someone else's property.

Revokes Acceptance

The legal act of canceling or withdrawing approval of a previously accepted offer or contract, often due to the discovery of a significant flaw or misrepresentation.