Instructional Objectives for this activity:
Paraphrase creditors’ rights, remedies, and insurance as a component of risk management.
Eagle Sales Company owns a warehouse, subject to a mortgage obtained from First National Bank. Separately, Eagle and First National obtain insurance policies from Good Hands Insurance, Inc., to cover the warehouse. Later, Eagle sells the property to Interstate Distribution Corporation but keeps the insurance policy. First National agrees to act as Interstate’s mortgagee, and Interstate obtains an insurance policy from Good Hands to cover the property. A fire totally destroys the warehouse.
Who can recover an amount for its loss?
This individual work should include the following:
You may use your text or the internet as a reference, but remember to cite your sources according to APA guidelines.
For citation guidelines, please refer to the table in the APA Style section of the syllabus.
Hollowell, W.E. & Miller, R. L., (2014). Business law text & exercises. (7th ed.) South-Western, Cengage Learning.
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