Multiple Choice
Dana loans her brother,Marcus,$500,000 with which to start a movie production company. The business assets are shown in the loan agreement as collateral for the loan. Dana can insure Marcus' life because:
A) The principle of insurable interest exists in this situation
B) The principle of utmost good faith exists in this situation
C) She and Marcus are brother and sister
D) This is a trick question; she cannot insure his life, but she can insure the business assets
Correct Answer:
Verified
Correct Answer:
Verified
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