Both the Buyer and the Seller Can Have an Insurable

question 59

True/False

Both the buyer and the seller can have an insurable interest in identical goods at the same time.

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Definitions:

Cross Section

A diagram or representation showing the internal structure of something when cut along an imaginary line.

Circular Runout

A tolerance that limits the total variation a surface can have when rotated around a central axis, ensuring roundness and smooth operation of rotating parts.

Total Runout

A composite tolerance applied to a feature which controls both its form and its orientation to a datum axis.

Datum Axis

An imaginary line or surface referenced in manufacturing or inspection of parts and assemblies to ensure coordination and correctness of dimension and tolerance specifications.