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A chef cut his finger accidentally while making salad. The next morning he felt pain and warmth and had a little swelling and redness on that finger (signs of inflammation) . By that night, he was just fine. Which of the following pertains to the chef?
Sharing Risk
The practice of distributing risks among different parties, often used in insurance and investments to reduce the impact of adverse events on any single party.
Basic Principles
Fundamental theories or beliefs that form the foundation for a system of belief or behavior or for a chain of reasoning.
Contract Law
The body of law that governs the formation, execution, and enforcement of contracts between parties.
Insurance Policies
Contracts between an insurer and a policyholder that provide financial protection and compensation for specific losses in return for premiums paid.
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