MARINE INSURANCE ACT 1909 - SECT 13 Defeasible or contingent interest
MARINE INSURANCE ACT 1909 - SECT 13
Defeasible or contingent interest(1) A defeasible interest is insurable, as also is a contingent interest.
(2) In particular, where the buyer of goods has insured them, he
or she has an insurable interest, notwithstanding that he or she might, at his
or her election, have rejected the goods, or have treated them as at the
seller's risk, by reason of the latter's delay in making delivery or
otherwise.