Question
In: Economics
1. Continental Insurance is drafting a new type of insurance policy. In drafting it, Continental must...
1.
Continental Insurance is drafting a new type of insurance policy. In drafting it, Continental must meet which of the following?
federal statutory requirements for tort law
common law requirements for contracts
common law requirements for tort law
state statutory requirements for tort law
2.
Do creditors have an insurable interest in someone who owes them money?
Yes.
Depends on the amount owed.
No.
Depends on whether the person is worth more dead than alive.
Solutions
Expert Solution
1) Solution: common law requirements for contracts
Explanation: In drafting new type of insurance policy, Continental
Insurance needs to meet common law requirements for a
contract.
2) Solution: Yes
Explanation: Creditors have a legitimate interest in the debtor's
life (the person who owes him money). In certain states, the normal
standard for an insurable interest depends on whether an individual
is worth more to you alive than dead
Rahul Sunny answered 2 years agoRelated Solutions
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