LexSection 9 — Defeasible or contingent interest.
The Marine Insurance Act, 1963
(1) A defeasible interest is insurable, as also is a contingent interest. (2) In particular, where the buyer of goods has insured them, he has an insurable interest, notwithstanding that he might, at his election, have rejected the goods, or have treated them as at the sellers risk, by reason of the latter's delay in making delivery or otherwise.Open in Lexace · Ask the AI about this section