In a Goods-In-Bailment Contract,when Is an Insurable Interest Created

question 2

Multiple Choice

In a goods-in-bailment contract,when is an insurable interest created?

• A)When the buyer has title to the goods
• B)When the seller has the risk of loss
• C)When either party has title,risk of loss,or some other economic interest attached to the goods
• D)Two days (forty-eight hours)after either party acquires title to the goods
• E)Never,because an insurable interest cannot exist in a goods-in-bailment contract

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Definitions:

Past

A term used to refer to the time before the present, often regarding to historical periods, events, conditions, or one's personal experiences.

Retrieve Information

The process of accessing and bringing into consciousness information that has been stored in memory, essential for learning and problem-solving tasks.

Explicit Memory

Memory in which there is conscious recollection of information, such as facts and events.

Implicit Memory

A category of memory where past experiences contribute to task performance without the person's conscious acknowledgment of these experiences.