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Property Damage Liability Coverage

Insurance that covers damage to other peoples’ property if the insured is found to be liable for an accident.

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Principal Driver

The main operator of an insured vehicle.

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Primary Use

How a vehicle is primarily used, such as for work, pleasure, etc.

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Policy Term

The time period during which an insurance policy is effective. Also referred to as Policy Period.

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Policy Period

The time period during which an insurance policy is effective. Also referred to as Policy Term.

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Policy Expiration Date

The date on which an insurance policy ends.

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Per Person Limits

The maximum amount an insurance company will pay under a policy to each person injured in an accident.

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Per-Occurrence Limits

A cap on the amount an insurance company pays under a policy for all claims arising from a single accident.

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POSSESSION WRIT OF

an order of the court that grants a person’s right to take over and occupy property being occupied by another person.

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PUBLIC EASEMENT

a term that is applied to a public right of way.

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PETITION FOR CERTIORARI

a Latin term for an application for a writ for a review and an inquiry by a higher court.

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PERCENTAGE COMPENSATION

the term that applies to money paid to a trustee based on profits earned by business administrators.

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PUNISHMENT CAPITAL

term that means the death penalty.

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PROBABLE CONSEQUENCES

These are the consequences or results that are likely to take place following an act or an event.

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PASS

1. To pronounce or to declare. 2. To be approved by authorities. 3. A document that allows a prisoner a temporary leave.

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PERSONAL HOLDING COMPANY

the term that is given to a corporation with less than 5 people owning at least half of the stock and 80% of the income.

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PEREMPTORY EXCEPTION

a term given to the defence that will deny a plaintiff the right to sue.

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PUNITIVE STATUTE

a statute of a law that imposes a penalty when it is broken.

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PARTNER SPECIAL

the term given to the partner who is not totally engaged in the business, person liable only to the amount of money invested or a member of a limited partnership. See partner, limited.

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PRESENCE OF THE COURT

a phrase that describes the contempt of court that is committed within sight and or hearing of the court.

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