A Person Has an Insurable Interest in Property If Destruction

question 38

True/False

A person has an insurable interest in property if destruction of that property would cause a monetary or pecuniary loss to that person.

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Definitions:

Judicial Decisions

Outcomes of cases resolved in a court of law, setting precedents for future legal interpretations and rulings.

Legislatively Sponsored Law

Refers to laws that are initiated, promoted, or supported by members of a legislative body.

Referred Committee

A legislative body or group to which a proposal, such as a bill or resolution, is sent for consideration or further action.

House or Senate

Two main chambers of the United States Congress, with the House of Representatives and the Senate responsible for making federal laws.