Which of the Following Statements Is False

question 2

Multiple Choice

Which of the following statements is false?

• A) The motor truck cargo insurance protects the interest of the trucking companies.
• B) Federal law requires trucks traveling across state lines to have at least $1.5 million in liability insurance.
• C) The peril causing the largest amount of inland marine losses is theft.
• D) Inland marine insurance developed because commerce in the U.S. moved inland.

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Definitions:

Reversion

A return to a previous state or condition.

Vested Remainder

A future interest in property that is certain to occur, provided the current estate terminates, and is not subject to any conditions precedent.

Possibility of Reverter

A future interest in real estate, reverting back to the original owner or their heirs if certain conditions are met or not maintained.

Tenancy by the Entireties

A form of joint property ownership exclusive to married couples, offering protections against creditors and automatic survivorship rights.