A contract with the white shark fishing company

Reference no: EM131047897

Jake borrowed $800,000 from the Gateway Bank to purchase a fishing boat. He keeps the boat at a dock owned by the Harbor Company. He uses the boat to earn income by fishing. Jake also has a contract with the White Shark Fishing Company to transport tuna from one port to another.

a. Do any of the following parties have an insurable interest in Jake or his property? If an insurable interest exists, explain the extent of the interest.

1. Gateway Bank

2. Harbor Company

3. White Shark Fishing Company

b. If Jake did not own the boat but operated it on behalf of the White Shark Fishing Company, would he have an insurable interest in the boat?

Reference no: EM131047897

Questions Cloud

Calculate the value of the symmetric key : Alice chooses a random integer RA= 3578 and sends Bob the value: (23578 mod 25307) = 6113. Note that this value 6113 can be computed very quickly from 2 and 3578 in approximately 1000 steps.

Depreciated at the time the theft occurred : Nicholas owns a laptop computer that was stolen. The laptop cost $1000 when it was purchased five years ago. A similar laptop computer today can be purchased for $500.

Write paper about why do bussinesses need to develop ethics : Write a term paper about Why do bussinesses need to develop ethics programs? You will write a Research Paper on a topic relating to business ethics.

The furniture on an actual cash value basis : Ashley purchased a dining room set for $5000 and insured the furniture on an actual cash value basis. Three years later, the set was destroyed in a fire.

A contract with the white shark fishing company : Jake borrowed $800,000 from the Gateway Bank to purchase a fishing boat. He keeps the boat at a dock owned by the Harbor Company. He uses the boat to earn income by fishing. Jake also has a contract with the White Shark Fishing Company to transpor..

Function that given a list of five or more numbers : finds the five smallest and five largest numbers in the list withoutsorting the entire list & plot the smallest vs. the largest.

Identify and list all relevant entities and relationship : Tip: If you do not have access to ER modeling software or a diagramming tool like Visio or OmniGraffle, you can simply create diagrams in a presentation tool like PowerPoint. This is an essential skill which is used in the field.

The purpose of other-insurance provisions : a. What is the purpose of other-insurance provisions?b. Give an example of the pro-rata liability clause.

What are the main obstacles yunus encountered : Explain each obstacle in detail in a full paragraph & do the same for the solutions. Given the space limitations you must choose only a few obstacles to discuss.

User Account

All Pages