between the assured and the underwriter, but is left to be estimated in case of loss. The term is opposed to “valued policy,” in which the value of the subject insured is fixed for the porpoee of the insurance, and expressed on the ace of the policy. Mozley & Whitley. Riges v. Fire Protection Ass'n, 61 8. C. 448, 39 E. 614; Cox v. Insurance Co., 3 Rich. Law, 331, 45 Am. Dec. 771; Insurance Co. v. Butler, 38 Ohio St. 128 But this term is also sometimes used in America to describe a policy in which an aggregate amount is expressed in the body of the policy, and the specific amounts . and subjects are to be indorsed from time te time. London Assur. Corp. v. Paterson, 10% . 538, 32 S. E. 650.—Paid-up policy. In life insurance. A policy on which no further payments are to be made in the way of annuai premiums.—Time policy. In fire insurance, one made for a defined and limited time, as, one year. In marine insurance, one made for a particular period of time, irrespective of the voyage or voyages upon which the vessel may be engaged during that period. Wilkins v. Tobacco Ins. Co., 30 Ohio St. 339. 27 Am. Rep. 455; Greenleaf v. St. Louis Ins. Co., 37 Mo. 29.—Valued policy. One in which the value of the thing insu is ieee’ f agreement be- M