Can the corporation recover from the fire insurance company

Assignment Help Business Management

Reference no: EM131387443

The Pyro Corporation has outstanding twenty thousand shares of common stock, of which nineteen thousand are owned by Peter B. Arson; five hundred shares are owned by Elizabeth Arson, his wife; and five hundred shares are owned by Joseph Q. Arson, his brother. These three individuals are the officers and directors of the corporation. The Pyro Corporation obtained a $750,000 fire insurance policy to cover a certain building it owned.

Thereafter, Peter B. Arson set fire to the building, and it was totally destroyed. Can the corporation recover from the fire insurance company on the $750,000 fire insurance policy? Why?

Reference no: EM131387443

Questions Cloud

Determine the best course of action for a community hospital : Using the information below, develop a Linear Program to determine the best course of action for a community hospital. Using the results of the Linear Program prepare an executive summary 2-3 pages, outlining the best course of action and justifyi..

Consider an economy where negative supply shock happens : Consider an economy where a negative supply shock happens. The supply shock is not accommodated by the Fed. Which of the following will be true? None of the listed options is correct. The inflation rate will rise. Output will go higher than its poten..

What has been your average return and holding period return : The return pattern on your favorite stock has been 5%, 8%, -12%, 15%, 21% over the last five years. What has been your average return and holding period return over the last 5 years?

Calculate the amount of desired fiscal stimulus : Draw the appropriate graph assuming that the economy is operating below full employment. Assuming the aggregate demand shortfall is $1466B and MPC is .72, calculate the amount of desired fiscal stimulus.

Can the corporation recover from the fire insurance company : Thereafter, Peter B. Arson set fire to the building, and it was totally destroyed. Can the corporation recover from the fire insurance company on the $750,000 fire insurance policy? Why?

Describe the taylor rule-full-employment level : Describe the taylor rule. if the fed were the following rule, what would the nominal Fed funds rate be if inflation over the past year were 4% and output were 1% below its full-employment level? assume that the inflation target and equilibrium real i..

A certificate of authority from state m result : Riley fails to pay for the goods, and when Amalgamated Corporation sues Riley in a court of State M, Riley defends on the ground that Amalgamated Corporation does not possess a certificate of authority from State M. Result?

Price setting model of oligopolists selling differentiated : One problem with the Bertrand price setting model of oligopolists selling differentiated products is that the profit function is discontinuous. Consumers would generally prefer that strategic oligopolists engage in sequential as opposed to simultaneo..

Will law firm be prevented from collecting on contract : Dr. North, a surgeon practicing in Georgia, engaged an Arizona professional corporation consisting of twenty lawyers to represent him in a dispute with a Georgia hospital. Will the law firm be prevented from collecting on the contract? Explain.

User Account

All Pages