Madam Tope insured her shop premises for the sum of D60,0...
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles will prevent her from claiming compensation?
indemnity
insurable interest
Proximate cause
Utmost good faith
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not an economic grouping? ...
Commerce developed as a result of? ...
Which of the following is used as pricing policy? ...
A contract which is devoid of legal effect is ...
Which of the following is NOT a function of the stock exchange market? ...
The selling of goods in small units is normally performed by ...
Which of the following is an advantage of personal selling? ...