Laws of Business for All the States And Territories of the Union And the Dominion of Canada, With Forms And Directions for All Transactions. And Abstracts of the Laws of All the States And Territories On Various Topics
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In our eReader you can find the full English version of the book. Read Laws of Business for All the States And Territories of the Union And the Dominion of Canada, With Forms And Directions for All Transactions. And Abstracts of the Laws of All the States And Territories On Various Topics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Laws of Business for All the States And Territories of the Union And the Dominion of Canada, With Forms And Directions for All Transactions. And Abstracts of the Laws of All the States And Territories On Various Topics
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To quickly assess the difficulty of the text, read a short excerpt:
In either case, or any other case, if the insurers pay a total loss, they are entitled to whatever shall come to hand of the property insured.
And it is usual, and we think more proper, to abandon in both of these cases.
2. Of the Right of Abandonment. — The insured cannot convert every partial loss, however small, into a total loss, by abandonment, transferring the damaged property to the insurers.
But by a rule which is nearly universal in this country, and not unknown abroad, if the damage b...y a peril insured against exceed one-half of the value of the property insured,— "whether ship, goods, or freight, — he may abandon the property to the insurers, and claim as for a total loss. But if the vessel actually reaches her destined port, she cannot be aban- doned, although the repairs would cost more than half of her value.
When we speak in another section of partial loss, it will be 398 MARINE INSURANCE.
seen that, by the established usage of this country, an allowance of "one-third, new for old," is always made.
What to read after Laws of Business for All the States And Territories of the Union And the Dominion of Canada, With Forms And Directions for All Transactions. And Abstracts of the Laws of All the States And Territories On Various Topics?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus Parsons to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In either case, or any other case, if the insurers pay a total loss, they are entitled to whatever shall come to hand of the property insured.
And it is usual, and we think more proper, to abandon in both of these cases.
2. Of the Right of Abandonment. — The insured cannot convert every partial loss, however small, into a total loss, by abandonment, transferring the damaged property to the insurers.
But by a rule which is nearly universal in this country, and not unknown abroad, if the damage b...y a peril insured against exceed one-half of the value of the property insured,— "whether ship, goods, or freight, — he may abandon the property to the insurers, and claim as for a total loss. But if the vessel actually reaches her destined port, she cannot be aban- doned, although the repairs would cost more than half of her value.
When we speak in another section of partial loss, it will be 398 MARINE INSURANCE.
seen that, by the established usage of this country, an allowance of "one-third, new for old," is always made.
What to read after Laws of Business for All the States And Territories of the Union And the Dominion of Canada, With Forms And Directions for All Transactions. And Abstracts of the Laws of All the States And Territories On Various Topics?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus Parsons to read onlineMoreLess
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