KFLCC Kingdom Law 2nd Ed.

641

INSURANCE

INSTRUMENT

Abbott T. Campbell, 69 Neb. 371, 95 N. W. 692. In the law of evidence. Anything which may be presented as evidence to the senses of the adjudicating tribunal. The term "in struments of evidence" includes not merely documents, 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 mat rimonial cause from the president of the pro bate, divorce, and admiralty division to the full court. It is analogous to a petition. Browne, Div. 322.—Instrument of evidence. Instruments 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 comprise persons, as well as writings. Best, Ev. § 123. —Instrument of saisine. An instrument in Scotland by which the delivery of "saisine" (i. e., seisin, or the feudal possession of land) is attested. It is subscribed by a notary, in the presence of witnesses, and is executed in pursuance of a "precept of saisine," whereby the "grantor of the deed" desires "any notary public to whom these presents may be present ed" to give saisine to the intended grantee or grantees. It must be entered and recorded in the registers of saisines. Mozley & Whitley. That kind of evidence which consists of writings not under seal; as court-rolls, accounts, and the like. 3 Co. Litt 487. INSUCKEN MULTURES. A quantity of corn paid by those who are thirled to a mill. See THIBLAGE. 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 allega tions, charges, or interrogatories set forth In the bill. White v. Joy, 13 N. Y. 89; Houghton v. Townsend, 8 How. Prac. (N. Y.) 446; Hill v. Fair Haven & W. R. Co., 75 Conn. 177, 52 Atl. 725. INSTRUMENTS La t INSUFFICIENCY. INSULA. Lat. An island; a house not connected with other houses, but separated by a surrounding space of ground. Calvin. 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 person interested against its loss. Mutual F. Ins. Co. v. Wagner (Pa.) 7 Atl. 104; In surance Co. v. Brooks, 131 Ala. 614, 30 South. 876; Berry v. Insurance Co., 132 N. Y. 49, 30 N. E. 254, 28 Am. St Rep. 548; Strong v. Insurance Co., 10 Pick. (Mass.) 43, 20 Am. Dec. 507; Insurance Co. v. Winsmore, 124 Pa. 61, 16 Atl. 516. If the assured had no BL.LAW DICT.(2D ED.)—41 INSUPER. La t Moreover; over and

real interest the contract would be a mere wager policy. Every interest in property, or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might directly damnify the insured, is an in surable interest Civil Code, Cal. § 2546. In the case of life insurance, a reasonable expectation of pecuniary benefit from the continued life of another; a reasonable ground, founded upon the relation of the parties to each other, either pecuniary or of blood or affinity, to expect some benefit or advantage from the continuance of the life of the assured. Insurance Co. v. Schaefer, 94 U. S. 460, 24 L. Ed. 251; Warnock v. Davis, 104 U. S. 779, 26 L. Ed. 924; Rombach v. Insurance Co., 35 La. Ann. 234, 48 Am. Rep. 239. A contract whereby, foi a stipulated consideration, one party under takes to compensate the other for loss on a specified subject by specified perils. The par ty agreeing to make the compensation is usually called the "insurer" or "underwrit er;" the other, the "insured" or "assured;" the agreed consideration, the "premium;" the written contract a "policy;" the events insured against, "risks" or "perils;" and the subject, right, or interest to be protected, 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. See People v. Rose, 174 111. 310, 51 N. E. 246, 44 L. R. A. 124; Barnes v. People 168 111. 425, 48 N. E. 91; Com. v. Wetherbee, 105 Mass. 160; State v. Vigilant Ins. Co., 30 Kan. 585, 2 Pac. 840; Com. v. Provident Bicycle Ass'n, 178 Pa. 636, 36 Atl. 197, 36 L\ R, A. 589; Com. v. Equitable Ben. Ass'n, 137 Pa. 412, 18 Atl. 1112; Tyler v. New Amsterdam F. Ins. Co., 4 Rob. (N. Y.) 155. Classification.—Accident insurance is that form of insurance which undertakes to in demnify the assured against expense, loss of time, and suffering resulting from accidents causing him physical injury, usually by pay ment at a fixed rate per week while the conse quent disability lasts, and sometimes including the payment of a fixed sum to his heirs in case of his death by accident within the term of the policy. See Employers' Liability Assur. Corp. v. Merrill, 155 Mass. 404, 29 N. E. 529.— Burglary insurance. Insurance against loss of property by the depredations of burglars and thieves.—Casualty insurance. This term is generally used as equivalent to "accident" in surance. See State v. Federal Inv. Co., 48 Minn. 110, 50 N. W. 1028. But in some states it means insurance against accidental injuries to property, as distinguished from accidents resulting in bodily injury or death. See Em ployers' Liability Assur. Corp. v. Merrill, 155 Mass. 404, 29 N. E. 529.—Commercial in surance is a term applied to indemnity agree ments, in the form of insurance bonds or poli cies, whereby parties to commercial contracts are to a designated extent guarantied against loss by reason of a breach of contractual obli- INSURANCE.