Which of the following statements is true of an insurable interest in goods?
A) Buyers have an insurable interest in goods at the moment they pay for the goods.
B) Buyers have an insurable interest in goods at the moment they get the title to the goods.
C) Sellers have an insurable interest in goods at the moment the goods are identified to the contract.
D) Sellers have an insurable interest in their goods as long as they have title to the goods or a security interest in them.

Question

Quizplus · Accepted Answer

The Uniform Commercial Code rules that govern risk of loss are supplemented by rules that give the parties an insurable interest in the goods, which allows them to insure themselves against most of the risks they must bear. Sellers have an insurable interest in their goods as long as they have title to the goods or a security interest in them.

Which of the Following Statements Is True of an Insurable