A Digest of the Law Relating to Marine Insurance

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From inside the book

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Common terms and phrases

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Էջ 137 - And so we the assurers are contented, and do hereby promise and bind ourselves each one for his own part, our heirs, executors, and goods to the assured, their executors, administrators, and assigns for the true performance of the premises, confessing ourselves paid the consideration due unto us for this assurance by the assured...
Էջ 136 - Touching the adventures and perils which we, the assurers, are contented to bear and do take upon us in this voyage: they are of the seas, men of war, fire, enemies, pirates, rovers, thieves, jettisons, letters of mart and countermart, surprisals, takings at sea, arrests, restraints...
Էջ 136 - And in case of any loss or misfortune, it shall be lawful to the assured, their factors, servants, and assigns, to sue, labour, and travel for, in and about the defence, safeguard, and recovery of the said goods and merchandises, and ship, &c., or any part thereof, without prejudice to this insurance; to the charges whereof we the assurers will contribute each one according to the rate and quantity of his sum herein assured.
Էջ 136 - ... all other perils, losses, and misfortunes, that have or shall come to the hurt, detriment, or damage of the said goods and merchandises, and ship, &c, or any part thereof.
Էջ 137 - And it is especially declared and agreed that no acts of the Insurer or Insured in recovering, saving, or preserving the property insured, shall be considered as a waiver or acceptance of abandonment.
Էջ 137 - NB — Corn, fish, salt, fruit, flour, and seed are warranted free from average, unless general, or the ship be stranded — sugar, tobacco, hemp, flax, hides and skins are warranted free from average, under five pounds per cent., and all other goods, also the ship and freight, are warranted free from average, under three pounds per cent, unless general, or the ship be stranded.
Էջ 25 - ... (3) In the absence of inquiry the following circumstances need not be disclosed, namely; (a) any circumstance which diminishes the risk; (b) any circumstance which is known or presumed to be known to the insurer. The insurer is presumed to know matters of common notoriety or knowledge, and matters which an insurer in the ordinary course of his business, as such ought to know...
Էջ 151 - interest or no interest," or "without further proof of interest than the policy itself," or "without benefit of salvage to the insurer...
Էջ 96 - Subject to any express provision in the policy, where the assured has incurred a general average expenditure, he may recover from the insurer in respect of the proportion of the loss which falls upon him ; and, in the case of a general average sacrifice, he may recover from the insurer in respect of the whole loss without having enforced his right of contribution from the other parties liable to contribute.
Էջ 135 - Upon any kind of goods and merchandises, and also upon the body, tackle, apparel, ordnance, munition, artillery, boat, and other furniture, of and in the good ship or vessel...

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