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Report No. 21

7. Interests which may, in particular, be insured.-

Without prejudice to the generality of the provisions contained in section 6,

(1) a defeasible interest is insurable, as also a contingent interest, and, in particular, where the buyer of goods has insured them, he has an insurable interest, notwithstanding that he might, at his 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;

[Cf. section 7, English Act]

(2) a partial interest of any nature is insurable;

[Cf. section 8, English Act]

(3) the insurer under a contract of marine insurance has an insurable interest in his risk;

[Cf. section 9(1), part, English Act]

(4) the lender of money on bottomry or respondentia has an insurable interest in respect of the loan;

[Cf. section 10, English Act]

(5) the master or any member of the crew of a ship has an insurable interest in respect of his wages;

[Cf. section 11, English Act]

(6) in the case of advance freight, the person advancing the freight has an insurable interest, in so far as such freight is not repayable in case of loss;

[Cf. section 12, English Act]

(7) the assured has an insurable interest in the charges of any insurance which he may effect.

[Cf. section 13, English Act]

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