Examlex
Jimmy has a feeling about a horse named Surf and Turf in the Kentucky Derby. While the horse is a long shot to win the race, Jimmy somehow believes Surf and Turf will win. He decides to make a substantial wager on the race. Which type of thinking is Jimmy using to make his decision?
Void
A term applied to a contract that is not valid because its object is illegal or it has some defect that is so serious that it is not a contract.
CIF
Cost, Insurance, and Freight, a term used in international trade that indicates the seller is responsible for covering these expenses until the goods reach the purchaser's specified port of destination.
Cost
The value, usually in monetary terms, required to produce, acquire, or maintain a good or service.
Insurance
A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
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