In the Context of an Insurance Policy,'market Value' Means the Cost

question 39

True/False

In the context of an insurance policy,'market value' means the cost of the item when purchased new in the market.

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Definitions:

Regions

Designated areas or divisions within a country or the world, often characterized by distinct physical, social, or cultural features.

Free Frank

Free Frank McWorter was an African-American man who bought his freedom from slavery, and later established the town of New Philadelphia, Illinois.

New Philadelphia

A historically significant town in Illinois, founded by Free Frank McWorter, an African American man, in 1836; it is notable for being the first town platted and registered by an African American before the American Civil War.

Ex-Slave

A person who has been emancipated from slavery or has escaped from enslavement.