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A law dictionary containing definitions of the terms and phrases of American and English jurisprudence, ancient and modern; and including the ... ecclesiastical, and commercial law, and
A law dictionary containing definitions of the terms and phrases of American and English jurisprudence ancient and modern and including the ecclesiastical and commercial law and Author:Henry Campbell Black This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ... A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified... more » subject by specified perils. The party agreeing to make the compensation is usually called the "Insurer" or "underwriter;" Oie other, the "insured" or "assured;" the agreed consideration, the "premium;" the written contract a "policy;" the events insured against "risks" or "perils j" and the subject right or Interest to be protected, the "insurable Interest" 1 Phil. Ins. §§ 1-5. Insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising from an unknown or contingent event. Civil Code, Cal. § 2527; Civil Code Dak. § 1474. See People v. Rose, 174 IU. 310, 51 N. E. 246, 44 L. R. A. 124; Barnes v. People 168 111. 425, 48 N. E 91; Com. v. Wetherbee, 105 Mass. 100; State v. Vigilant Ins. Co., 30 Kan. 585, 2 Pae. 840; Com. v. Provident Bicycle Ass'n, 178 Pa. 636, 36 AO. 197, 36 L. R. A. 589; Com. v. Equitable Ben. Ass'n, 137 Pa. 412, 18 AO. 1112; Tyler v. New Amsterdam F. Ins. Co., 4 Rob. (N. Y.) 155. Classification.--Accident insurance is that form of insurance which undertakes to indemnify the assured against expense, loss of time, and suffering resulting from accidents causing him physical injury, usually by payment at a fixed rate per week while the consequent disability lasts, and sometimes including the payment of a fixed sum to bis heirs in case of his death by accident within the term of the policy. See Employers' Liability Assur. Corp. v. Merrill, 155 Mass. 404. 29 N. E. 529.--Burglary insurance. Insurance against loss of property by the depredations of...« less