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Full Replacement Value
An insurance term referring to the amount necessary to replace damaged or lost property with new items of like kind and quality without deducting for depreciation.
Moral Hazard
A situation where one party in a transaction has the opportunity to take risks because they know they will not have to bear all the consequences.
Best Interest
A consideration that prioritizes the well-being or advantage of a person or group.
Acceptable Business Behavior
Practices within a business that are considered ethical and proper by societal and professional standards.
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