Question

vimal got his factory insurance for ₹ 1 crores and later suffered a loss of ₹20 lakhs.he got full compensation of ₹20 lakh from the insurance company and later sold some half - burnt goods for ₹50000 .who has the right over the sale proceeds and why ?

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business studies ​

Answer 1

Answer:

insurance company has 5he right over the sale proceeds

Explanation:

it is because insurance company provide compensation for the loss suffered by vimal and after compensation claim vimal has no right over the burnt goods.

Answer 2

Answer:

Insurance Company because the claim is taken by vimal of burnt goods (loss) then there is no right of vimal over the sale proceeds of burnt goods.

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