Mr Ajai did not disclose that he stores drums of petrol when he took a fire insurance policy. Under which of the following principles will the insurance company reject his claims

By: |Published on: Jul 21|Categories: Commerce WAEC| 0 comments

A. Subrogation
B. Utmost good faith
C. Insurable interest
D. Proximate cost

Correct Answer:

Option B – Utmost good faith

Users Also Read These:

SEE ALSO  Which of the following arrangement of documents is the correct sequence as used in the retail trade?

Copyright warnings! Do not copy.