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In United States maritime law, the Limitation of Liability Act of 1851, codified as since December 2022, states that the owner of a vessel may limit damage claims to the value of the vessel at the end of the voyage plus "pending freight", as long as the owner can prove it lacked knowledge of the problem beforehand.
The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853. [1] Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease, or life estate.
The Wilburn Boat Company had been operating the Wanderer as a commercial carrier, and the vessel had been sold and transferred by the Wilburn's in their personal capacity to the Wilburn Boat Co. Furthermore, the vessel had been pledged as collateral on two occasions; once to Citizen's National Bank and then to J.F. and J.H. Wilburn, jointly.
A co-insurance, which typically governs non-proportional treaty reinsurance, is an excess expressed as a proportion of a claim in percentage terms and applied to the entirety of a claim. Co-insurance is a penalty imposed on the insured by the insurance carrier for under reporting/declaring/insuring the value of tangible property or business income.
If the ship was properly abandoned under the orders from the master, the vessel's own crews who saved the vessel or cargo on board were entitled to claim salvage. In the case of the Master's discharge of crew concerned, the Warrior Lush (476) case ruled that if the crew is properly discharged by the master, their employment contract is validly ...
The total costs of a title insurance premium, settlement expenses, and ongoing costs of an annual mortgage insurance premium (if applicable) equate to only about 1% of a borrower’s overall life ...
Insurance is getting harder to find and more expensive in much of the country. Just ask homeowners' associations. Mirroring trends in the single-family home market, insurers are boosting premiums ...
Requirements for vessels of 100 feet or greater in registered length to obtain a fishery endorsement to the vessel's documentation 370 Claims 380 Procedures 381 Cargo preference--U.S.-flagged vessels 382 Determination of fair and reasonable rates for the carriage of bulk and packaged preference cargoes on U.S.-flagged commercial vessels: 383