Examlex
Which of the following statements is incorrect with respect to time lines?
Insurable Interest
A basic requirement for the issuance of an insurance policy, indicating that the person purchasing the policy has a stake in the safety or preservation of the insured item or person.
Equipment
Tangible assets used in the operation or activities of a business or entity, ranging from office supplies to machinery.
Arbitration Clause
A contract provision that requires parties to settle disputes through arbitration rather than litigation in courts.
Credible Insurance
Insurance coverage provided by a reputable and financially stable company that can be trusted to pay out claims as stipulated by the policy.
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