Guaranty Co., 32 Wash
Categories: Contracts
Definition (1910 Edition)
120, 72 Pac. 10382. —Life insurance. That kind of insurance in which the risk contemplated is the death of a particular person; upon which event (if it occurs within a prescribed term, or, according to the contract, whenever it occurs) the insurer engages to pay a stipulated sum to the legal representatives of such person, or to a third person having an insurable interest in the life of such person.—Live-stock insurance. Insurance upon the lives, health, and good condition of domestic animals of the useful kinds, such as horses and cows.—Marine insurance, A contract whereby, for a consideration stipulated to be paid by one interested in q ship, freight, or cargo, subject to the risks of marine navigation, another undertakes to indemnify him against some or all of those risks durin a certain period or voyage. 1 Phil. Ins, 1. contract whereby one party, for a stipulated premium, undertakes to indemnify the other against certain perils or sea-risks to which his ship, freight, and cargo; or some of them, may be apoee la a certain voyage, or a fixed riod of time. Kent, Comm. 253. Marine nsurance is an insurance against risks connected with navigation, to which a ship, cargo, freightage, profits, or other insurable interest in movable property may be exposed during a certain voyage or a fixed period of time. Civ. de Cal. § 2655. A contract of marine ingurance is one by which a person or corporation, for a stipulated premium, insures another against losses occurring by the casualties of the sea. Code Ga. 1882, § 2824.—Plate-glass juramce, Insurance against loss from the accidental breaking of plate-glass in windows, doors, show-cases, etc.—Steam boiler insurance. Insurance against the destruction of steam boilers by their explosion, sometimes including indemnity againgt injuries to other
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain.
UK commentary and modern updates are original additions. This entry is for educational
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