An_______ Is an Interest Either in a Person's Life or Well-Being

question 12

Multiple Choice

An_______ is an interest either in a person's life or well-being or in property that is sufficiently substantial to justify insuring against injury to or death of the person or damage to the property.

• A) insurable agreement
• B) insurable interest
• C) insurance interest
• D) insurance classification

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Definitions:

Legal Rules

Principles or guidelines established by authority, society, or custom, which are enforceable through legal institutions.

Foreign

Related to or originating from a country different from the one being referred to, often implies external or outside influence or components.

Alien Corporations

Companies that are incorporated in one country but do business in another.

Professional Corporation Acts

Specific laws enacted to regulate the formation and operation of corporations providing professional services, like legal or medical practices.