With Goods in Bailment,when Is an Insurable Interest Created

question 56

Multiple Choice

With goods in bailment,when is an insurable interest created?

• A) Only when either party has title to the goods
• B) When either party has title or a risk of loss, but not under any other circumstances
• C) When either party has title, risk of loss, or other economic interest attached to the goods
• D) Two days after either party has title to the goods
• E) Never - there is no such thing as an insurable interest in a goods-in-bailment contract

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Definitions:

Money Demanded

The total amount of money that households and businesses want to hold at a given time, often influenced by interest rates, income levels, and the economic outlook.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulation of banks, and ensuring stability of the financial system.

Federal Funds Rate

The rate at which banks exchange federal funds (balances maintained at Federal Reserve Banks) among themselves for overnight loans.

Monetary Policy

Monetary policy involves the management of a country's money supply and interest rates by the central bank to influence economic growth, inflation, and employment levels.