The government passed the Pacific Railway Act in 1862.
In this, they allowed the construction of a transcontinental railroad. They had participation in 4 of 5 transcontinental railroads.
Restoring an insured to the same condition as before a loss is an example of the principle of Indemnity. The principle of indemnity makes sure that the insurance contract protects and compensates you for any loss, damage or injury. The objective of an insurance contract is to make you "whole" in case of a loss, not to allow you to make a profit. Thus, the amount of your compensation for damages is directly related to the amount of damages you actually suffered.
The principle of indemnity states that an insurance policy will not provide compensation to the policyholder in excess of their financial loss. This limits the benefit to an amount that is sufficient to recover the policyholder to the same financial position they were in before the loss.
Learn more about the Principle of Indemnity:
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Answer:
A. arbitration.
Explanation:
Arbitration refers to the private process in which a conflict is brought before one or more arbitrators who make a final decision on it, by consent of the parties. The parties rather than going to court, agree for an alternate dispute settlement method when selecting arbitration. the condition of the arbitration requires both parties to agree to it and select the arbitrator with mutual consent. As per the question, Joe and Stan agreed to involve a third party to settle their difference is an example of arbitration.
