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Insurer
InsurerContracts. One who has obliged himself to insure the safety of another's property, in consideration of a premium paid, or secured to be paid, to him. RELATED TERMS-------------------------------------- Property Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property. Consideration Under common law, there can be no binding contract without consideration, which was defined in an 1875 English decision as "some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other". Common law did not want to allow gratuitous offers, those made without anything offered in exchange (such as gifts), to be given the protection of contract law. So they added the criteria of consideration. Consideration is not required in contracts made in civil law systems and many common law states have adopted laws which remove consideration as a prerequisite of a valid contract. Premium Contracts. The consideration paid by the insured to the insurer for making an insurance. It is so called because it is paid primo, or before the contract shall take effect. SIMILAR TERMS-------------------------------------- Insufficiency What is not competent; not enough. Insula Latin. An island. In the Roman law the word is applied to a house not connected with other houses, but separated by a surrounding space of ground. Insuper English law. The balance due by an accountant in the exchequer, as apparent by his account. The auditors in settling his account say there remains so much insuper to such accountant. Insurable interest That right of property which may be the subject of an insurance. Insurance Contracts. It is defined to be a contract of indemnity from loss or damage arising upon an uncertain event. Insurance attorney An insurance lawyer is someone providing legal advice and counsel on various aspects of insurance law. He or she is a provider of claims payment assistance. Insurance lawsuit A lawsuit filed by or against an insurance company or having to do with insurance disputes. Insured Contracts. The person who procures an insurance on his property. Insurgent One who is concerned in an insurrection. Insurrection A rebellion of citizens or subjects of a country against its government. PREVIOUS AND NEXT TERMS-------------------------------------- Insula Latin. An island. In the Roman law the word is applied to a house not connected with other houses, but separated by a surrounding space of ground. Insuper English law. The balance due by an accountant in the exchequer, as apparent by his account. The auditors in settling his account say there remains so much insuper to such accountant. Insurable interest That right of property which may be the subject of an insurance. Insurance Contracts. It is defined to be a contract of indemnity from loss or damage arising upon an uncertain event. Insured Contracts. The person who procures an insurance on his property. Insurer Insurgent One who is concerned in an insurrection. Insurrection A rebellion of citizens or subjects of a country against its government. Intakers English law. The time given to receivers of goods stolen in Scotland, who take them to England. Intangible assets Items of personal property; examples; franchises, trademarks, patents, copyrights, goodwill. Intangible value A value that cannot be imputed to any part of the physical property. We thank you for using the Juridical Dictionary to search for Insurer. If you have a better definition for Insurer than the one presented here, please let us know by making use of the suggest a term option. This definition of Insurer may be disputed by other professionals. Our attempt is to provide easy definitions on Insurer and any other medical topic for the public at large.
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