What crime did Sid commit by burning his own warehouse to collect insurance?

Study for the Business Law Test. Use flashcards and multiple choice questions, each equipped with hints and explanations. Prepare for your exam with confidence!

Sid committed arson by deliberately setting fire to his own warehouse with the intent to collect insurance money. Arson is defined as the willful and malicious burning or exploding of property, particularly structures. In this case, the act of burning his warehouse meets the legal definition of arson because it involves malicious intent to create damage for financial gain.

While insurance fraud might also be applicable in this scenario because Sid intends to defraud the insurance company by collecting money from a fire he caused, the primary and more specific crime committed in this action is arson. The act of burning down the property itself is what categorizes this criminal behavior as arson, regardless of the motivation behind the act.

Other choices, such as burglary and theft, do not fit the scenario. Burglary involves entering a building unlawfully with intent to commit a crime inside, and theft refers to taking someone else's property without consent. Since Sid's actions specifically involve setting fire to his own property, arson is the most accurate characterization of his crime.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy