Surplus, Surplusage - Definition - Law Dictionary Home Dictionary Definition surplus-surplusage

Definition :

Surplus, surplusage, a supernumerary part, an overplus, what remains when everything is satisfied.

The word 'surplus' has the technical meaning which arises from the Insurance Act which is made applicable for purposes of valuation by s. 43 of the Life Insurance Corporation Act read with Notification No. GSR 734, dated 23-8-1958. Life Insurance Corporation of India v. S.V. Oak, AIR 1965 SC 975: (1965) 1 SCR 403.

The remainder of a thing; the residue or excess, Black's Law Dictionary, 7th Edn., p. 1456