An attorney named Krishna in a sleepy town
purchased a box of very rare and expensive cigars and insured them against fire
among other things. He smoked his entire stockpile of these great cigars within
a month; Krishna filed a claim with the insurance company without yet having
made even his first premium payment on the policy.
In his claim, Krishna played boldly
stating that the cigars were lost"in an encounter with rounds of small
fires." The insurance company refused to pay, citing that the reasons were
obvious that the attorney had smoked the cigars in the normal way as other
smokers do. Attorney, Krishna sued and to everyone’s surprise, he won. In delivering the ruling, the judge agreed
with the insurance company that the claim was not serious in content. The judge
stated nevertheless, that the attorney held a policy from the company in which
it had warranted that the cigars were insurable and also guaranteed that it
would insure them against fire, without defining what is considered” unacceptable
fire," and the insurance company was obligated to pay the claim. Rather
than endure lengthy and costly appeal process, the insurance company accepted
the ruling and paid Rs. 15,000.00 to Krishna for his loss of the rare cigars
lost in the "fires."
However,
to his bemusement after he cashed the check in the bank, the insurance company
had arrested him on 24 counts of arson. With his insurance claim and testimony
from the previous case, which used against him, Krishna was convicted of
intentionally burning his insured property and was sentenced to 24 months in
jail and a Rs. 24,000.00 fine.
So now, you understood
how an experienced attorney, like Krishna, caught red-handed for getting
involved in forgery. People, themselves knowingA so much make mistakes and in
country like India, most of us are not financially literate.
So Moneymindz, thebest free financial advisory service is right beside you before taking any
wrong step. We think for you and your future.
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