The manager of a firm applied for a loan to the bank by submitting a false statement of accounts and got sanctioned a big amount of loan. Which of the value is he violating?

The value of cheating by submitting a false statement of account

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The value of honest by providing all the required documents

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The vale of honour by providing all the required documents

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None of the above

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Solution

The correct option is A
The value of cheating by submitting a false statement of account

He is violating the value of cheating by submitting a false statement of account. Failure to make disclosure of material facts by the insured makes the contract of insurance viodable at the discretion of the insurer.

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