Contracts of Insurance Are Enforceable Because

question 60

Multiple Choice

Contracts of insurance are enforceable because

• A) they are in writing and of a standard form.
• B) they are contracts of indemnity and are therefore enforceable.
• C) the insured has an insurable interest in that he will suffer some pecuniary detriment from the loss or destruction of the property.
• D) they are always under seal and therefore cannot be either illegal or void.
• E) they are in the nature of wagering and such contracts are enforceable.

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Definitions:

Moral Development

The process through which individuals develop proper attitudes and behaviors toward other people in society, based on social and cultural norms, laws, and rules.

Lawrence Kohlberg

A psychologist known for his theory of moral development, which outlines the progression of moral reasoning through distinct stages.

SMART Goal

A framework for setting clear, well-defined objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound.

Goal Statement

A clear, concise declaration of the objectives one aims to achieve.