OF. A court established in pursuance of the statutes 43:Eliz. « 12, and 13 & 14 Car. IT. c. 23. Composed of the judge of the admiral- _ty, the recorder of Londgn, two doctors of the civil law, two common lawyers, and eight merchants; any three of. whom, one being.a civilian or a barrister, could determine in:a summary way causes concerning policies of assurance in London, with an appeal to chan- .eery. No longer in-existence. 3 Bl. Comm. 14, es POLICY. The general principles by which a government is guided in its manage- ‘ ment ‘of public affairs, or the legislature in its measures. l a ' This term, as applied to q law, ordinance, er rule of law, denotes its general purpose or tendency considered as directed to the