VERTICAL LAYERING
When reinsurers assume different layers of risk. Some reinsurers will have no loss. The higher the layer the less exposed to risk. Refer to excess layer and horizontal layering.
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When reinsurers assume different layers of risk. Some reinsurers will have no loss. The higher the layer the less exposed to risk. Refer to excess layer and horizontal layering.
Lat In the civil law. Empty; void; vacant; unoccupied. Calvin.
The distinction between a good and a valuable consideration is that the former consists of blood, or of natural love and affection; as when a man grants an estate to a near
L Lat A waste or common lying open to the cattle of all tenants who have a right of commoning. Cowell.
One who leads greyhounds. Blount
Lat. To come; to appear in court This word is sometimes used as the name of the writ for summoning a jury, more commonly called a “venire facias.”
In English law. The compass of the royal court, which bounds the jurisdiction of the lord steward of the household; it seems to have been twelve miles about. Britt. 68. A quantity
A crop of grass or corn. Also a garment; metaphorically applied to a possession or seisin.
Lat. With force and arms. See TRESPASS.
Au ancient writ against the mayor or bailiff of a town, etc., for the clean keeping of their streets and lanes. Reg. Orig. 207.
Watchfulness; precaution ; a proper degree of activity and promptness in pursuing one’s rights or guarding them from Infraction, or in making or discovering opportunities for the enforcement of one’s lawful claims
Lat. In tlie civil law. To claim, or challenge; to demand one’s own; to assert a right in or to a thing; to assert or claim a property in a thing; to
A species of copyholder, who holds by the virge or rod.
To impair; to make void or voidable; to cause to fail of force or effect; to destroy or annul, either entirely or in part, the legal efficacy and binding force of an
Lat. In old English law. Outcry; hue aud cry. Cowell.
In common recoveries, tlie person who is called to warrant or defend the title is called the “vouchee.” 2 Bouv. Inst, no. 2093.
Lat. In the civil law. Pledges; sureties; bail; security for the appearance of a defendant or accused person in court Calvin.
The act of ascertainiug the worth of a thing. The estimated worth of a thing. See Lowenstein v. Schiller, 38 App. Div. 178, 50 N. Y. Supp. 074; State v. Central Pac.
In old European law. Sorcery ; witchcraft; the profession of the Vau- dois.
Somethiug that is bought; capable of being bought; offered for sale; mer- cenary. Used in an evil sense, such purchase or sale being regarded as corrupt and illegal.