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Marine insurance industry
Marine insurance industrymarine insurance may be divided into three categories: cargo; hull and machinery; and protection and indemnity RELATED TERMS-------------------------------------- Marine Whatever concerns the navigation of the sea, and forms the naval power of a nation is called its marine. Insurance Contracts. It is defined to be a contract of indemnity from loss or damage arising upon an uncertain event. Cargo Maritim law. The entire load of a ship or other vessel. Protection 1) English law. A privilege granted by the king to a party to an action, by which he is protected from a judgment which would otherwise be rendered against him. 2) Government. That benefit or safety which the government affords to the citizens. 3) merc. law. The name of a document generally given by notaries public, to sailors and other persons going abroad, in which is certified that the bearer therein named, is a citizen of the United States. Indemnity That which is given to a person to prevent his suffering damage. Sometimes it signifies diminution; a tenant who has been interrupted in the enjoyment of his lease may require an indemnity from the lessor, that is, a reduction of his rent. SIMILAR TERMS-------------------------------------- Marinarius An ancient word which signified a mariner or seaman; in England marinarius capitaneus, was the admiral or warden of the ports. Marine Whatever concerns the navigation of the sea, and forms the naval power of a nation is called its marine. Marine and shipping law unit A research centre specializing in maritime law and the international law of the sea, operating at the T.C. Beirne School of Law, University of Queensland, Australia. Marine contract One which relates to business done or transacted upon the sea and in sea ports, and over which the courts of admiralty have jurisdiction concurrent with the courts of common law; such contracts include according to civilians and jurists among other things, charter parties, affreightments, marine hypothecations, contracts for the marine service in the building, re-pairing, supplying and navigating ships; contracts and quasi contracts respec- ting averages, contributions and jettisons, and policies of insurance. Marine insurance Contracts. A contract by which one party, for a stipulated premium, undertakes to indemnify the other, against all perils or sea risks, to which his ship; freight or cargo, or some of them, may be exposed, during a certain voyage or fixed period of time. Marine insurance act The Canadian federal statute on marine insurance, modelled on the United Kingdom's Marine Insurance Act, 1906.. Marine interest Contracts. A compensation paid for the use and risk of money loaned on respondentia and bottomry; provided the money be loaned and put in risk, there is no limit as to the amount which may be lawfully charged by the lender. Marine league A measure equal to the twentieth part of a degree. Marine reinsurance A contract whereby risks insured under a number of marine insurance contracts are redistributed among one or more reinsurers. Marine reinsurance contracts are often termed "reinsurance treaties". Mariner One whose occupation is to navigate vessels on the sea. Maritagium Anciently that portion which was given with a daughter in marriage. Marital That which belongs to marriage; as marital rights, marital duties. Marital portion In Louisiana, this name is given to that part of a deceased husband's estate, to which the widow is entitled. Marital property Property that is acquired by the spouses during the marriage. it typically does not include any property owned prior to marriage. Marital settlement agreement A written agreement entered into by the spouses getting divorced stating their rights and agreements pertaining to property, support and custody. Maritime That which belongs to or is connected with the sea. Maritime cause Maritime causes are those arising from maritime contracts, whether made at sea or on land, that is, such as relate to the commerce, business or navigation of the sea; as, charter parties, affreightments, marine loans, hypothecations, contracts for maritime service in building, repairing, supplying and navigating ships, contracts and quasi contracts respecting averages, contributions and jettisons; contracts relating to marine insurance, and those between owners of ships. Maritime contract One which relates to the navigation of the sea. Maritime law That system of law which relates to the affairs of the sea, such as seamen, ships, shipping, navigation, and the like. Maritime lien A secured claim against a ship (and sometimes against cargo or bunkers) in respect of services provided to the vessel or damages done by it. A maritime lien is a substantive right in the property of another, derived from the general maritime law (supra) and rooted in the civil law concept of a "privilège". It arises without notice, registration or other formalities, at the time the services are rendered or the damages are done. Unlike a common law possessory lien (infra), it does not depend for its existence on the possession of the res by the creditor. It travels with the ship, so as to encumber the title of subsequent owners or possessors and survives the conventional sale of the vessel. It remains inchoate from the moment it attaches, until it is enforced by an action in rem, when it relates back to the time it first attached. In the U.K. and British Commonwealth countries, it ranks after special legislative rights (infra), the costs of arrest and sale and custodia legis expenses (supra) and before ship mortgages (infra) and statutory rights in rem (infra). Maritime loan A contract or agreement by which one, who is the lender, lends to another, who is the borrower, a certain sum of money, upon condition that if the thing upon which the loan has been made, should be lost by any peril of the sea, or vis major, the lender shall not be repaid, unless what remains shall be equal to the sum borrowed; and if the thing arrive in safety, or in case it shall not have been injured, but by its own defects or the fault of the master or mariners, the borrower shall be bound to return the sum borrowed, together with a certain sum agreed upon as the price of the hazard incurred. Maritime london An organization promoting London as the world's premier maritime centre. Its website features news, information and links to various maritime organizations in the United Kingdom. Maritime profit Maritime law. The French writers use the term maritime profit to signify any profit derived from a maritime lean. PREVIOUS AND NEXT TERMS-------------------------------------- Marine Whatever concerns the navigation of the sea, and forms the naval power of a nation is called its marine. Marine and shipping law unit A research centre specializing in maritime law and the international law of the sea, operating at the T.C. Beirne School of Law, University of Queensland, Australia. Marine contract One which relates to business done or transacted upon the sea and in sea ports, and over which the courts of admiralty have jurisdiction concurrent with the courts of common law; such contracts include according to civilians and jurists among other things, charter parties, affreightments, marine hypothecations, contracts for the marine service in the building, re-pairing, supplying and navigating ships; contracts and quasi contracts respec- ting averages, contributions and jettisons, and policies of insurance. Marine insurance Contracts. A contract by which one party, for a stipulated premium, undertakes to indemnify the other, against all perils or sea risks, to which his ship; freight or cargo, or some of them, may be exposed, during a certain voyage or fixed period of time. Marine insurance act The Canadian federal statute on marine insurance, modelled on the United Kingdom's Marine Insurance Act, 1906.. Marine insurance industry Marine interest Contracts. A compensation paid for the use and risk of money loaned on respondentia and bottomry; provided the money be loaned and put in risk, there is no limit as to the amount which may be lawfully charged by the lender. Marine league A measure equal to the twentieth part of a degree. Marine reinsurance A contract whereby risks insured under a number of marine insurance contracts are redistributed among one or more reinsurers. Marine reinsurance contracts are often termed "reinsurance treaties". Mariner One whose occupation is to navigate vessels on the sea. Maritagium Anciently that portion which was given with a daughter in marriage. We thank you for using the Juridical Dictionary to search for Marine insurance industry. If you have a better definition for Marine insurance industry than the one presented here, please let us know by making use of the suggest a term option. This definition of Marine insurance industry may be disputed by other professionals. Our attempt is to provide easy definitions on Marine insurance industry and any other medical topic for the public at large.
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