Valued Policy Law - Law Dictionary Search Results
valued policy law
valued policy law : a law requiring insurance companies to pay to the
Insurance
cut away his masts, the loss is distributed over the value of the ship and cargo as general average. (b) Particular … instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known … lives, and the whole of the law is now codified in the (English)
trust
of not less than five percent of the fair market value of the original principal over the course of a specified … to avoid an inequitable result or to prevent fraud individual policy pension trust : an insurance trust created as a retirement … disfavored and often restricted in the law. active trust : a trust in
reserve
reserve] 2 : an insurance company's reserve representing the discounted value of future payments to be made on losses which may … to be made on losses which may have already occurred policy reserve : an insurance company's reserve representing the difference in … a determination of (a question of law) [the justices reserved the question because
Constructive total loss
loss if the cost of repairing her would exceed her value when repaired. The other is that she will become so … imminent, or its ultimate arrival under the terms of the policy, though not utterly hopeless, yet exceedingly doubtful. In such a … loss, a term used in the law of marine insurance to denote a
Turnover
whether for cash or for deferred payment or for other valuable consideration, Joint Commercial Tax Officer v. Young Men's Association (Regd.), … another shade of meaning. The expression, 'turnover' in the Drug Policy, 1994 represents the sale value of the bulk drug sold … Turnover, in laws dealing with Sales Tax, 'turnover' includes
Consideration
is anything other than money, then it has to be valued, Marren (Inspector of Taxes) v. Marriage, (1980) 3 All ER … the consideration is founded upon a transaction which violates public policy or morality:'as a contract to commit, conceal, or compound a … not affect its validity either in law or equity (except for some kinds
Stamp duties
series of transactions in respect of which the amount or value or the aggregate amount or value of the consideration (or … for moneys assured by an unstamped assignment of a life policy, made void every condition of sale framed with a view … Stamp Act, 1891), reversing the former law, see Buckworth v. Simpson, (1835) 1
contract
the parties to perform are equal to each other in value constructive contract : quasi contract in this entry contract for … in order to get a job 2 : an insurance policy 3 : the study of the law regarding contracts usually
property
property (as a stock certificate or professional license) that derives value not from its intrinsic physical nature but from what it … existence and intrinsic economic value because of it [the insurance policy restricted property damage coverage to tangible property] compare intangible property … this entry ;specif in the civil law of Louisiana : tracts of land
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