Sea Anchor - Law Dictionary Search Results
Home Dictionary Name: sea anchorSea anchor
See Drag sail under 4th Drag...
Overrake
To rake over or sweep across from end to end as waves that break over a vessel anchored with head to the sea...
Way, Under
Way, Under, a ship is 'under way' within the meaning of the Sea Regulations, 1910, when she is not the anchor or made fast to the shore or ground (see The Palembang, 1929 P. 246)....
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
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