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Illustration of the partial payout of Sum Insured against probability of occurrence. Condition of average (also called underinsurance [1] in the U.S., or principle of average, [2] subject to average, [3] or pro rata condition of average [4] in Commonwealth countries) is the insurance term used when calculating a payout against a claim where the policy undervalues the sum insured.
Pro rata is an adverb or adjective meaning in equal portions or in proportion. [1] The term is used in many legal and economic contexts. The hyphenated spelling pro-rata for the adjective form is common, as recommended for adjectives by some English-language style guides. In American English, this term has been vernacularized to prorated or pro ...
The second (“pro-rata” tag-along right) forces the majority holder to reduce the amount of equity it wants to sell and provide the minority an opportunity to also sell their shares on a proportional (pro-rata basis). [9] Full tag-along rights are usually found in firms where there are few investors and each investor has strong rights, as ...
A rights issue to shareholders is generally made as a tax-free dividend on a ratio basis (e.g. a dividend of three subscription rights for two shares of common stock issued and outstanding). Because the company receives shareholders' money in exchange for shares, a rights issue is a source of capital .
There are three typical calculation methods: pro-rate, or using a penalty method such as short period rate (old short rate), and short period rate (90% pro rata). The return premium is generally calculated using a wheel calculator, a type of circular slide rule or an online version. [1]
Pro rata condition of averages. Add languages. ... Download QR code; Print/export Download as PDF; Printable version; In other projects
[citation needed] One author uses the terminology of the "Rule of Average Conditional Probabilities", [4] while another refers to it as the "continuous law of alternatives" in the continuous case. [5] This result is given by Grimmett and Welsh [6] as the partition theorem, a name that they also give to the related law of total expectation.
Heydon's Case (1584) 76 ER 637 is considered a landmark case: it was the first case to use what would come to be called the mischief rule of statutory interpretation.The mischief rule is more flexible than the golden or literal rule, in that the mischief rule requires judges to look over four tasks to ensure that gaps within the law are covered.