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Question
Speedy Shipping Corporation applies to TransInsurance Company for a fire insurance policy on Speedy's warehouse. On the application, Speedy misrepresents the age of the property to obtain a lower premium. When a fire soon destroys the warehouse, TransInsurance canA.deny payment, because a fire destroyed Speedy's warehouse.
B.deny payment, because of Speedy's fraud in the application.
C.not deny payment, because a fire destroyed Speedy's warehouse.
D.not deny payment, because the application is not part of the policy.
Answer
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