Practice question
Mira owns an orchard and validly contracts to insure her expected crop from those existing trees. Assume a risk of pecuniary loss and no other coverage issue. Is the fact that the crop has not yet grown alone fatal to insurable interest?
- No; an expectancy coupled with an existing interest in its source may qualify under Section14
- Yes; nothing expected can ever be insured
- Yes; only harvested cash is insurable
- No; because all hopes without any existing right qualify
- Yes; landowners cannot insure crops
Legal references
- Insurance Code as amended RA10607: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html Sections10,14,16 and20–25.
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