1.

In a sale of land on the installment plan, the contract provides that in case of
the death of the vendee before the completion of all the installment
payments, the vendee’s representatives or his heirs could either complete
payment and receive the title to the land from the vendor or rescind the
contract and recover back payments made. Is this an insurance contract ?
Give reasons
Yes. It is an insurance contract.
All the necessary elements of a contract of insurance are present. There is a loss,
damage, or liability on the part of the member that should be indemnified by the
insurer.
The stipulation in the contract gives rise a liability on the part of an insurer to
indemnify the heirs of the deceased.

2. On December 14, 2015 a marine insurance was taken out on a vessel.

Unknown to the shipowner and the insurer, the vessel already sank, beyond
salvage, on December 13, 2015. Is the insurer liable for fortuitous events ?
(Answer yes or no, then give reasons.)

No. The insurer is not liable for fortuitous event but liable to past event.

Past events can be insured even though the insurer has no knowledge prior to the
happening of the past event. It is also for the reason that past event is peculiar to
marine insurance.

In this case, a marine insurance insures a vessel for an event that may have
already transpired. The insurer will pay even if the ship sank at the time the policy
was taken.

3. The agent in Davao of the insured “A” was employed to ship “A’s” copra to
Manila and to communicate the shipment to the buyer “A” in Manila. The
said agent wrote the owner of the copra announcing the sailing of the ship,
but failed to state that the ship had run a ground, which fact he already knew
before announcing the sailing. “A,” the buyer of the copra, in all good faith,
took out a marine insurance on the copra. The copra was badly damaged
and was a total loss. Can the insured recover on the policy ? Reason.

No, the insured cannot recover on the policy.

The vessel which is the subject matter of the marine insurance was lost at the time
of the perfection of the contract of insurance. The insured property must exist when
the insurance takes effect.