Before a Seller Can Have an Insurable Interest in Goods

question 5

True/False

Before a seller can have an insurable interest in goods, the goods must be identified to a contract.

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Definitions:

Committed Position

A firm stance or viewpoint held in a negotiation, often difficult to change or negotiate away from.

Costs of Delay

The negative consequences, such as financial losses or missed opportunities, resulting from postponing a decision or action.

Negotiation

The process by which two or more parties aim to reach an agreement on matters of mutual interest while attempting to maximize their own outcomes.

Hardball Tactics

Aggressive or uncompromising strategies employed in negotiations or conflicts.