Blacks Law Dict. 1st ed

POLITICAL OFFENSES

908

POLICY

agement of public affairs, or the legislature in its measures. This term, as applied to a law, ordinance, or rule of law, denotes its general purpose or tendency considered as directed to the welfare or prosperity of the state or com munity. POLICY OP INSURANCE. A mer cantile instrument in writing, by which one party, in consideration of a premium, en gages to indemnify another against a con tingent loss, by making him a payment in compensation, whenever the event shall hap pen by which the loss is to accrue. 2 Steph. Comm. 172. The written instrument in which a con tract of insurance is set forth is called a "policy of insurance." Civil Code Cal. § 2586. An interest policy is one where the insured has a real, substantial, assignable interest in the thing insured. A wager policy is a pretended insurance, founded on an ideal risk, where the insured has no interest in the thing insured, and can therefore sustain no loss by the happening of any of the misfortunes insured against. These policies are strongly reprobated. 3 Kent. Comm. 225. An open policy is where the amount of the interest of the assured (or value of the thing covered) is not fixed by the policy, but is left to be adjusted in case of loss. Such policies may issue in blank to be filled by the insured as new risks may be desired. Code Ga. 1882, § 2833. When a fire insurance is made for a limited period (e. g., a year,) it is called a "time pol icy." L. E. 5 Exch. 296. When it is made to insure not any specific goods, but the goods which may at the time of the fire be in a cer tain building, it is called a "floating policy." 5 Ch. Div. 560. A valued policy is where the value of the thing is settled by agreement between the parties and inserted in the policy. Smith, Merc. Law, 344. An insurance may be effected either for a voyage or for a number of voyages, in either of which cases the policy is called a "voyage policy;" or the insurance may be for a partic ular period, irrespective of the voyage or voy ages upon which the vessel may be engaged during that period, and the policy is then called a "time policy." Sweet. POLICY OP A STATUTE. The "pol icy of a statute," or "of the legislature," as applied to a penal or prohibitive statute,

means the intention of discouraging conduct of a mischievous tendency. See L. R. 6 P. C. 134; 5 Barn. & Aid. 335; Pol. Cont. 235. POLICY OP THE LAW. By this phrase is understood the disposition of the law to discountenance certain classes of acts, transactions, or agreements, or to refuse them its sanction, because it considers them immoral, detrimental to the public welfare, subversive of good order, or otherwise con trary to the plan and purpose of civil regula tions. Polities legibus non leges politiis adaptandae. Politics are to be adapted to the laws, and not the laws to politics. Hob. 154. POLITICAL. Pertaining to policy or the administration of the government. A political corporation is one which has principally for its object the administration of the government, or to which the powers of government, or a part of such powers, have been delegated. 1 Bouv. Inst. no. 182. POLITICAL ARITHMETIC. An ex pression sometimes used to signify the art of making calculations on matteis relating to a nation; the revenues, the value of land and effects; the produce of lands and manufact ures; the population, and the general statist ics of a country. Wharton. POLITICAL ECONOMY. The science which describes the methods and laws of the production, distribution, and consumption of wealth, and treats of economic and industrial conditions and laws, and the rules and prin ciples of rent, wages, capital, labor, ex changes, money, population, etc. The science which determines what laws men ought to adopt in order that they may, with the least possible exertion, procure the greatest abundance of things useful for the satisfaction of their wants, may distribute them justly, and consume them ra tionally. De Laveleye, Pol. Econ. The science which treats of the administration. of the revenues of a nation, or the management and regulation of its resources, and productive' property and labor. Wharton. POLITICAL LAW. That branch of ju risprudence which treats of the science of politics, or the organization and administra tion of government. POLITICAL (OR CIVIL) LIBERTY. Natural liberty, restrained by human law so far as is necessary and expedient for the pub lic advantage. See 2 Steph. Comm. (7th Ed.) 466. See LIBERTY. POLITICAL OFFENSES. As a des ignation of a class of crimes usually excepted

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