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Discuss the advantages of using standardized contracts
Reference no: EM132764740
Question: Insurance policies are generally standardized contracts as they are unilateral in nature. Discuss the advantages and disadvantages of using standardized contracts. Also, comment on how the principle of indemnity, including subrogation and insurable interest, upholds the intent of the policy contract?
Reference no: EM132586273 Colchester Company is considering purchasing a new piece of equipment. Relevant information concerning the equipment follows: (Ignore income taxes.) Purchase cost$180,000 Annual