When is an insurable interest in the buyer created in a simple delivery contract?
A)When money is transferred from the buyer to the seller
B)When the items are delivered to the buyer
C)When the buyer takes possession
D)When the goods are identified to the contract
E)When the seller tenders delivery of the goods to the buyer

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code,with a simple delivery contract,an insurable interest is created in the buyer when the goods are identified to the contract (in other words,at the same time that title passes).

When Is an Insurable Interest in the Buyer Created in a Simple