With Goods in Bailment, When Is an Insurable Interest Created

question 18

Multiple Choice

With goods in bailment, when is an insurable interest created?

• A) Only when either party has title to the goods
• B) When either party has title or a risk of loss, but not under any other circumstances
• C) When either party has title, risk of loss, or other economic interest attached to the goods
• D) Two days after either party has title to the goods
• E) Never. There is no such thing as an insurable interest in a goods-in-bailment contract

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Definitions:

Dissociative Symptom

A psychological phenomenon wherein an individual experiences a disconnection or lack of continuity between thoughts, memories, surroundings, actions, or identity.

PTSD

Post-Traumatic Stress Disorder, a mental health condition triggered by experiencing or witnessing a terrifying event.

Traumatic Incident

An event or situation that causes psychological trauma, potentially resulting in lasting emotional distress and mental health disorders.

PTSD

Post-Traumatic Stress Disorder; a mental health condition triggered by experiencing or witnessing a terrifying event, characterized by flashbacks, nightmares, and severe anxiety.