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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

At inception, a creditor validly insures the life of a debtor whose death could prevent payment. The debt is later fully paid before death. The insurer argues section 19 automatically defeats the policy solely because the original interest ceased. Assume no other legal or policy issue. Which is best?

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Repayment retrospectively eliminates inception interest The inception-only interest rule means later cessation alone does not defeat the interest requirement All life interest must remain at death Only the beneficiary’s wealth matters

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