Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: I

INSURABLE RISK

A risk that causes loss that can be covered by the premium paid. Refer to uninsurable risk.

INDICATIVE QUOTE

An offer given to a dealer that is uncertain. It is used as a guideline for future business offers.

INTENSITY MODEL

When a company estimates failure rate to predict default. Structural or markto market models are ways to do this.

INTERPOSITIONING

The act of adding a middle man simply to boost commissions. Refer to affirmative and negative obligation.

I

The initial letter of the word “Insti- tuta,” used by some civilians in citing theInstitutes of Justinian. Tayl. Civil Law, 24.

ILLATA ET INVECTA

Lat. Things brought into the house for use by the tenant wereso called, and were liable to the jus liypothccce of Roman law, just as they are to thelandlord’s right of distress

IMAN, IMAM, or IMAUM

A Mohammedan prince having supreme spiritual as well astemporal power; a regular priest of the mosque.

IMMOVABLES

In the civil law. Property which, from its nature, destination, or theobject to which it is applied, cannot move itself, or be removed.Immovable things are. in general, such as cannot either move

IMPENSS

Lat. In the civil law. Expenses ; outlays. Mackeld. Rom. Law,

IMPLEADED

Sued or prosecuted; used particularly in the titles of causes wherethere are several defendants; as “A. B., impleaded with C. D.”

IMPRESSION

A “case of the first impression” is one without a precedent; onepresenting a wholly new state of facts: one involving a question never beforedetermined.

IMPROVIDENTLY

A judgment, decree, rule, Injunction, etc., when given or renderedwithout adequate consideration by the court, or without proper information as toall the circumstances affecting it, or based upon a mistaken assumption or

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