AWhat Is an Insurable Interest? at What Point in a Sales

question 61

Essay

a.What is an insurable interest? At what point in a sales transaction does the buyer get an insurable interest?
b.is the buyer the only one who has an insurable interest in the goods? Is it possible for both the buyer and the seller to simultaneously hold an insurable interest? Explain.

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Definitions:

Homozygous Genotype

An organism's genetic makeup consisting of two identical alleles for a particular trait.

Heterozygous

Having inherited two genes of different allelic forms for a trait.

Dominant Allele

The allele that is expressed when an individual possesses two different alleles for the same trait.

Recessive Allele

The allele that is not expressed when an individual possesses two different alleles for the same trait.