Fire Insurance - Law Dictionary Search Results
allied line
allied line : insurance (as for earthquake or water damage) provided by policies separate from a fire policy ...
arson
arson [Anglo-French arsoun, alteration of Old French arsin, literally, conflagration, from ars, past participle of ardre to burn] : the act or crime of willfully, wrongfully, and unjustifiably setting property on fire often for the purpose of committing fraud (as on an insurance company) ar·son·ist [-ist] n ...
concurrent
concurrent 1 : occurring, arising, or operating at the same time often in relationship, conjunction, association, or cooperation [the power of taxation in the general and state governments is acknowledged to be "McCulloch v. Maryland, 17 U.S. 316 (1819)"] [a tortious act] see also concurrent cause at cause concurrent sentence at sentence 2 : insuring the same property to the same extent under identical terms [ fire policies] 3 : exercised over the same matter or area by two different authorities see also concurrent jurisdiction at jurisdiction concurrent power at power con·cur·rent·ly adv ...
peril
peril 1 : exposure to the risk of death, destruction, or loss 2 : the cause of a loss (as of property) [insured their home against fire, floods, and other s] compare risk ...
Consequential damages
Consequential damages. or loss usually refers to pecuniary loss consequent on pshysical damage. Such as loss of profit sustained due to fire damage in a factory. It is most frequently encountered in contracts and insurance policies when its meaning is a matter of construction. When used in an exemption clause in a contract, consequential refers to damage which is only recoverable, Hadley v. Baxendale, (1854) 9 Exch 341. See also DAMAGES....
Days of grace
Days of grace. Time of indulgence granted to an acceptor for the payment of his bill of exchange. It was originally a gratuitous favour (hence the name), but custom has rendered it a legal right.The number of these days varies according to the ancient custom or express law prevailing in each particular country. In the (English) United Kingdom, by the Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 14, 'where a bill' (i.e., a bill of exchange or promissory note) 'is not payable on demand, the day on which it falls due is determined as follows:-Three days, called days of grace, are, in every case where the bill itself does not otherwise provide, added to the time of payment as fixed by the bill, and the bill is due and payable on the last day of grace,' with a proviso that where the last day of grace falls on Sunday, Christmas Day, or Good Friday, or a public fast or thanksgiving day, the bill is payable on the preceding business day, or on the succeeding business day if the last d...
leasehold insurance
leasehold insurance : insurance against loss to a lessee (as of profits derived from a sublease) because of cancellation of a lease as a result of fire or other specified peril ...
Factory
Factory, a place where a number of traders reside in a foreign country for the convenience of trade; also a building in which goods are manufactured.In the Factory and Workshop Act, 1901, 'Factory' means by s. 149 'textile factory and non-textile factory, or either of those descriptions of factories.'The expression 'textile factory' means any premises wherein or within the close or curtilage of which steam, water or other mechanical power is used to move or work any machinery employed in preparing, manufacturing or finishing or in any process incident to the manufacture of cotton, wool, hair, silk, flax, hemp, jute, tow, china-grass, cocoanut fibre or other like material, either separately or mixed together or mixed with any other material, or any fabric made thereof:Provided that print works, bleaching and dyeing works, lace warehouses, paper mills, flax scutch mills, rope works and hat works shall not be deemed to be textiles factories.'Tenement factory' means a factory when mechanic...
loss
loss 1 : physical, emotional, or esp. economic harm or damage sustained: as a : decrease in value, capital, or amount compare gain b : an amount by which the cost of something (as goods or services) exceeds the selling price compare profit c : something unintentionally destroyed or placed beyond recovery d : the amount of an insured's financial detriment due to the occurrence of a stipulated event (as death, injury, destruction, or damage) in such a manner as to create liability in the insurer under the terms of the policy NOTE: As a general rule, economic losses are deductible from adjusted gross income under section 165 of the Internal Revenue Code. There are, however, numerous exceptions and limitations. actual loss : the identifiable and calculable monetary detriment that is suffered or will be suffered as a result of an act or event actual total loss : a loss in marine insurance in which the property (as a vessel or cargo) cannot be repaired or recovered compare constru...
Landlord and tenant
Landlord and tenant. A tenancy arises when the owner of an estate inland, called the lessor or landlord, agrees expressly or by implication to allow another person, called the lessee or tenant, to enjoy the exclusive possession and use of the land for a period less than the landlord's estate in it, generally upon payment of rent. The landlord's estate is called the reversion, and at common law, a power of distress for rent is incident to the reversion.Leases or tenancies may be (1) for any agreed period such as for years or less, e.g., for a year, half-year, quarter or week; (2) from year to year; (3) at will; (4) on sufferance; or (5) they may arise upon estoppel; or (6) exist by force of a statute (see LEASE; INCREASE OF RENT). In a narrower sense the words 'tenancy' and 'landlord and tenant' are generally restricted to lease of a house or land for occupational purposes. If nothing appears to the contrary, either expressly or by implication, in the lease or agreement, the landlord is...
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