Tim and Lisa Parker have come to your law office and relate the following facts: While Tim and Lisa were still married, Lisa purchased insurance on their home from American Security Insurance Company. The policy was issued on November 3, 2010, listing the “insured” as Lisa L. Parker. Shortly thereafter the Parkers entered into a separation agreement under which Lisa deeded her interest in the house to Tim. The Parkers were divorced on August 26, 2015. On November 28, 2016, the house was destroyed by fire. American Security refused to pay on the policy, claiming that Lisa had no insurable interest in the property at the time of the loss. The Parkers sued the insurer, contending that they were entitled to payment under the policy issued to Lisa.

What rules/laws that can be applied to this case?

Answer rating: 100% (QA)

Assignament1 Issue 1 Weather parkers were married at the time of taking policy from American Securit... View the full answer