Insurable interest in the warrensburg property

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Victory Container Corporation was owned by the three Radin brothers. Two of those brothers also owned the Warrensburg Paper and Board Corporation. Victory had no direct ownership of the Warrensburg plant, however, Nevertheless, Victory took out a fire insuance policy on the Warrensburg plant. When the Warrensburg property was damaged, Victory attempted to collect under the policy. Did Victory have an insurable interest in the Warrensburg property? Explain.

Reference no: EM131427989

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