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Bertram31.com General Bulletin Board
Re: B31 valuation - beware
Posted By: Mikey In Response To: Re: B31 valuation - beware (Vic Roy)
Date: Tuesday, 29 November 2005, at 10:48 p.m.
UV
Now I ain't no lawyer nor am I a booky, but it seems to me that if the bookies accept your money and insure your boat for, say, $120,000, then they are obligated to pay on that basis. Where does my argument fail to (sorry) hold water? You didn't hide the boat from them and I'll bet they at least did a drive-by survey within the time that they insured it. So, wouldn't they be defrauding you by accepting your money on the 120k basis and then renegeing on their contractual promise when you sustain a loss.
Your humble student
Mikey
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