Blacks Law Dict. 1st ed

INSURANCE COMPANY

632

INSTRUMENT

person interested against its loss. If the aa» sured had no real interest, the contract would be a mere wager policy. Every interest in property, or any re» lation thereto, or liability in respect there* of, of such a nature that a contemplated peril might directly damnify the insured, is an in surable interest. Civil Code Cal. § 2546. INSURANCE. A contract whereby, for : a stipulated consideration, one party under takes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation it usually called the "insurer" or "under writer;" the other, the "insured" or "as» sured;" the agreed consideration, the "premi um;" the written contract, a "policy;" the events insured against, "risks" or "perils;" and the subject, right, or interest to be pro tected, the "insurable interest." 1 Phil. Ins. §§ 1-5. Insurance is a contract whereby one un dertakes to indemnify another against loss, damage, or liability arising from an unknown or contingent event. Civil Code Cal. § 2527; Civil Code Dak. § 1474. Various classes or kinds of insurance are in use. Martne insurance applies to vessels, cargoes, and property exposed to maritime risks. Fire insur ance covers buildings, merchandise, and other property on land exposed to injury by fire. Lift insurance means the engagement to pay a stipu lated sum upon the death of the insured, or of a third person in whose life the insured has an in terest, either whenever it occurs, or in case it oo curs within a prescribed term. Accident and health insurance include insurances of person* against injury from accident, or expense and los» of time from disease. Many other forms might exist, and several others have been to a limited extent introduced in recent times; such as insur ance of valuables against theft, insurance of the lives and good condition of domestic animals, in surance of valuable plate-glass windows against breakage. Abbott. INSURANCE AGENT. An agent em ployed by an insurance company to solicit risks and effect insurances. Agents of insurance companies are called "gen eral agents" when clothed with the general over sight of the companies' business in a state or large section of country, and "local agents" when their functions are limited and confined to some partio ular locality. INSURANCE BROKER. A broker through whose agency insurances are effect ed. 3 Kent, Comm. 260. See BROKER. INSURANCE COMPANY. A corpo ration or association whose business is ta make contracts of insurance. They are either mutual companies or stock companies.

In the law of evidence. Anything which may be presented as evidence to the senses of the adjudicating tribunal. The term "instru ments of evidence" includes not merely docu ments, but witnesses and living things which may be presented for inspection. 1 Whart. Ev. § 615. INSTRUMENT OF APPEAL. The document by which an appeal is brought in an English matrimonial cause from the presi dent of the probate, divorce, and admiralty division to the full court. It is analogous to a petition. Browne, Div. 322. INSTRUMENT OF EVIDENCE^ In struments of evidence are the media through which the evidence of facts, either disputed or required to be proved, is conveyed to the mind of a judicial tribunal; and they com prise persons, as well as writings. Best, Ev. §123. INSTRUMENT OF SAISINE. An in strument in Scotland by which the delivery of "saisine" {i. e., seisin, or the feudal posses sion of land) is attested. It is subscribed by a notary, in the presence of witnesses, and is executed in pursuance of a "precept of eaisine," whereby the "grantor of the deed" desires "any notary public to whom these presents may be presented" to give saisine to the intended grantee or grantees. It must be enteied and recorded in the registers of saisines. - Mozley & Whitley. INSTRUMENTA. That kind of evidence which consists of writings not under seal; as court-rolls, accounts, and the like. 8 Co. Litt. 487. INSUCKEN MULTURES. A quantity of corn paid by those who are thirled to a mill. See THIRLAGE. INSUFFICIENCY. In equity pleading. The legal inadequacy of an answer in equity which does not fully and specifically reply to some one or more of the material allegations, charges, or interrogatories set forth in the bill. INSULA. An island; a house not con nected with other houses, but separated by a surrounding space of ground. Calvin. INSUPER. Moreover; over and above. An old exchequer term, applied to a charge made upon a person in his account. Blount. INSURABLE INTEREST. Such a real and substantial interest in specific property as will sustain a contract to indemnify the

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